Hong Kong stocks near 2-month high on ‘likely’ Trump-Xi trade talks
Talks between the US and Chinese presidents could take place as early as this week to break the impasse
The Hang Seng Index closed 1.5 per cent higher at 23,512.49, near the highest level since March 19. The Hang Seng Tech Index added 1.1 per cent. On the mainland, the CSI 300 Index climbed 0.3 per cent and the Shanghai Composite Index strengthened 0.4 per cent.
Electric-vehicle maker Li Auto jumped 5.8 per cent to HK$116.40 and machine tool maker Techtronic Industries advanced 2.5 per cent to HK$90.80. China Construction Bank rallied 3.5 per cent to HK$7.16 and China Merchants Bank added 3.1 per cent to HK$49.60. Alibaba Group Holding added 0.6 per cent to HK$113.90 and Tencent Holdings added 1.3 per cent to HK$505.
05:19
How are Chinese citizens feeling the effects of the US-China tariff war?
Direct talks between Xi and Trump, which have not taken place since Trump’s return to the White House in January, would largely calm investors as they could lead to a long-term trade deal between Beijing and Washington, following a 90-day tariff truce reached in Switzerland in early May.