Hong Kong stocks jump after US court blocks Trump’s tariffs in boon for trade
Hang Seng Index approached a two-month high on bets global trade relations and market sentiment will improve
The Hang Seng Index advanced 1.4 per cent to 23,573.38 on Thursday, the most since May 20. The Hang Seng Tech Index rallied 2.5 per cent. On the mainland, the CSI 300 Index rose 0.6 per cent and the Shanghai Composite Index added 0.7 per cent.
Companies with sales exposures to the US led winners. Biotech firm Wuxi Biologics surged 10 per cent to HK$25.75 and affiliate Wuxi AppTec climbed 6.9 per cent to HK$70.95. Shenzhou, the apparel maker that supplies to Nike, added 4.2 per cent to HK$59.25. Alibaba Group Holding gained 2.1 per cent to HK$118.10 and Tencent Holdings gained 0.9 per cent to HK$510.50.
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“It’s a structural pivot in the narrative: from strongman tariffs to institutional guardrail,” said Stephen Innes, a managing partner with SPI Asset Management in Bangkok. “Traders are already front-running the [tariff] unwind. For now, the tape tells a story of relief.”