FX.co ★ Hong Kong Shares Rally for Second Day

Hong Kong's stock market experienced a significant rally, climbing 530 points or 2.6% to reach 20,797 during Thursday's morning trading, building on its upward momentum for the second consecutive session. This positive shift came on the back of U.S. President Trump's declaration of a 90-day halt on reciprocal tariffs to enable individualized trade agreements with countries, notably excluding China. Reports indicate that over 75 nations have sought tariff easement from the United States. Concurrently, Chinese market sentiment lifted as state-owned enterprises took steps to bolster markets, leading brokerage firms committed to stabilizing share prices, and numerous publicly listed companies declared plans to repurchase stock. Further fueling this optimism was the news that China's consumer prices declined by a mere 0.1% year-on-year in March, an improvement from February's 0.7% decrease and defying expectations of a 0.1% increase, thus suggesting diminishing deflationary pressures. The technology sector spearheaded the advances, driven by investor confidence in China's initiative to achieve self-reliance in technology. Notably, Kingdee Intl. Software saw a 6% rise, spurred by robust cloud-based revenue, while Lenovo Group surged 9.1%, Laopu Gold increased by 8%, Alibaba Health climbed 7.1%, and Shenzhou Intl. appreciated 6.9%.