FX.co ★ Hang Seng Pares Gains at Finish

The Hang Seng Index edged up by 36 points, or 0.2%, closing at 22,008 on Tuesday. This uptick was primarily driven by gains in the technology and financial sectors following a subdued session. However, the market's initial gains were pared back as investors remained cautious prior to the release of China's official PMI data for April, slated for Wednesday. Market participants continued to seek clarity regarding the United States' tariff policies and their potential effects on China. On Monday, Beijing chose not to introduce new stimulus measures but reaffirmed its support for exporters and workers impacted by U.S. tariffs, stating that economic contingency plans are in place. Meanwhile, mainland stock markets will observe a closure for a five-day Labor Day holiday starting May 1. In the auto sector, stocks saw a boost, with Geely increasing by 3.7% and Li Auto by 2.2%, in light of President Trump's initiative to reduce certain tariffs on foreign auto parts to benefit U.S. car manufacturers. Wuxi AppTec surged 4% following a robust first-quarter profit report. Other significant gainers included Sichuan Kelun-Biotech, which rose by 9.5%, Alibaba Health at 6.5%, Trip.com by 2.9%, and Meituan with a 2.8% increase. Conversely, Sinopec experienced a 1.4% downturn after posting weaker quarterly earnings.