FX.co ★ Hong Kong Market Opens Week with Strong Gains

In early Monday trading, Hong Kong's stocks surged by 322 points, or 1.4%, reaching 23,188, marking the eighth consecutive session of gains and achieving their highest level in one and a half months. This upward movement followed a notable rise in U.S. futures, underpinned by encouraging developments in the U.S.-China trade discussions over the weekend. Washington highlighted advancement towards a potential agreement, while Beijing confirmed that both nations had consented to initiate formal negotiations. Investor sentiment received additional support from the easing of geopolitical tensions, including a tentative ceasefire between India and Pakistan and Ukrainian President Zelenskiy's willingness to meet with Russian President Putin. Broad-based gains were observed across all sectors, as Hong Kong announced plans to rejuvenate its tourism industry. However, the upward momentum was somewhat restrained by weak April inflation data from China, where consumer prices declined for the third consecutive month, and producer prices experienced their most substantial drop in six months. Among the leading gainers were Techtronic Industries, which rose by 4.2%, Trip.com advancing by 3.0%, Li Auto increasing by 2.6%, and Tencent Holdings, which climbed by 1.7%.