The Hang Seng rose 111 points or 0.5% to finish at 24,140 on Friday, marking its second straight gain amid a bullish momentum in mainland stocks as hopes grew for a policy response from Beijing to address deflation risks.
Weekly performance stood at 0.9%, bouncing back from previous losses. This was supported by China's new employment measures, which include increased unemployment insurance refunds and aid for firms facing labor costs.
However, gains were trimmed later in the day after U.S. futures slipped sharply following President Trump's tariff threats against Europe and Canada. Earlier in the week, Trump delayed his July 9 deadline to August 1 but imposed a 50% tariff on copper and broadened his tariff war.
Meantime, traders showed caution ahead of China's June trade data, set to be due Saturday, and major releases next week, including June activity readings and Q2 GDP. Top movers included Wuxi Biologics (4.1%), HKEX (3.4%), AIA Group (2.8%), SMIC (2.6%), and Meituan (2.3%).
Source: Trading Economi
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