Hong Kong stocks edged up 25 points, or 0.1%, to 24,348 in early trade on Friday, following losses in the previous session, largely supported by gains in consumer stocks. An overnight rally on Wall Street lifted sentiment after the S&P 500 closed near a record.
The White House's efforts to play down a looming July tariff deadline also helped calm investor nerves. However, the upside momentum was capped by caution ahead of the release of the US PCE index, the Fed's preferred inflation gauge, due later in the day. Meanwhile, recent data showed a slight annual decline in China's industrial profits in the first five months of 2025, reflecting deflation risks and external trade challenges.
Among the early movers were Xiaomi Corp. (up 5.9%), JD Logistics (3.2%), SMIC (2.4%), and Sunny Optical Tech (2.3%). For the week, the Hang Seng has rallied around 3.5%, supported by reports of a US-China "framework" deal to resume rare earth shipments following the recent trade deal. (alg)
Source: Investing.com
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