Hong Kong Stocks Trade Higher
Hong Kong stocks increased by 123 points, equating to a rise of 0.6%, reaching 22,095 during the morning trade on Tuesday. This uptick followed a subdued trading session, buoyed by a slight improvement in U.S. futures that helped enhance market sentiment. Investors were closely monitoring upcoming earnings reports after a turbulent session on Wall Street the previous night. Confidence was further bolstered by China's commitment, announced on Monday, to support exporters and workers affected by U.S. tariffs, alongside measures intended to strengthen the broader economy. In terms of trade, Hong Kong experienced a significant surge in exports, which rose by 18.5% year-over-year in March. This marked the strongest growth in over a year and the highest export value in three years, as exporters rushed to deliver goods ahead of possible new U.S. tariffs. Nevertheless, further gains were restrained by Beijing's statement that no discussions are currently taking place with the U.S. regarding tariffs, despite suggestions from President Trump. All market sectors experienced advances, with technology, consumer, and property stocks leading the ascent. Notable performers included Alibaba Health, which rose 9.8%, Li Auto, which gained 5.1%, Meituan, up by 4.4%, and KE Holdings, with a 3.2% increase.
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