FX.co ★ Hong Kong Equities Edge Up Ahead of China Trade Data

On Friday morning, Hong Kong's stock market saw an increase of 60 points or 0.2%, bringing the index to 22,841, marking the seventh consecutive day of gains and reaching its highest level in a month. This upward trend was influenced by positive cues from Wall Street, following statements by U.S. President Trump indicating a potential reduction in tariffs on Chinese goods, contingent upon successful trade talks scheduled in Switzerland—the first formal negotiations between the U.S. and China. Additionally, market sentiment was buoyed by the announcement of a significant trade agreement between the U.S. and the U.K. The financial and consumer sectors led the market's rise, whereas property and technology stocks demonstrated weaker performance. Despite this, further upward momentum was restrained by caution in anticipation of China's release of April trade data later today, with concerns that tariffs might begin to impact external demand. The Hang Seng index is poised for a fifth straight weekly gain, having already increased by over 1%, partly due to recent monetary easing by the People's Bank of China (PBoC). Among the notable early movers were Henderson Land Development, rising by 5.5%; Chow Tai Fook Jewellery, up by 4.4%; Prada Spa, increasing by 4.0%; and Lenovo Group, which gained 3.0%.