The Hang Seng Index rose as Hong Kong markets expressed relief following the initial agreement between China and the United States in Kuala Lumpur. Investors began to believe that trade relations between the world's two largest economies would be more stable, leading to a return to risk appetite. On Monday morning, the Hang Seng rose around 0.7% to 26,342, while the Hang Seng Tech Index also rallied. Major technology and industrial stocks led the gains: WuXi AppTec surged more than 7%, Chinese chipmaker SMIC rose almost 4%, Baidu rose almost 3%, and Alibaba also rose above 3%. This means that China's technology sector immediately benefited from the possibility of easing tensions between Washington and Beijing.
However, the gains were uneven. Xiaomi shares fell, as did Li Auto, Li Ning, and NetEase. This shows that the euphoria remains selective: the market is willing to invest in stocks deemed to directly benefit from stabilizing trade relations (chips, e-commerce, biotech), but remains cautious in the consumer and EV sectors. For now, the Hong Kong market's mood is essentially this: if Trump and Xi truly continue their "temporary peace" on tariffs and don't escalate tensions further, the Hang Seng still has some breathing room. But all eyes are now on the Trump-Xi meeting this week—that will determine the next direction. (az)
Source: Newsmaker.id
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