FX.co ★ Hang Seng Pares Gains at Finish

The Hang Seng Index increased by 84 points, or 0.4%, closing at 22,776 on Thursday, marking its sixth consecutive day of gains, spurred by a rally in U.S. futures. The market's optimism received a boost from President Trump's allusion to a significant trade agreement with a "big and highly respected country," which is likely the United Kingdom, with further specifics anticipated later today. The index neared a one-month high, bolstered by the continued support for Chinese markets by Huanjin, a sovereign wealth fund. Market sentiment was further lifted by the People's Bank of China's interest rate cuts intended to bolster economic growth amidst the ongoing U.S.-China trade tensions. Technology stocks benefited from reports suggesting the U.S. might relax restrictions on chip exports, coupled with renewed support from Beijing for the sector. Nonetheless, gains in the index were pared later in the session due to skepticism surrounding new fiscal measures in China and caution ahead of the upcoming trade and inflation data for April from the mainland. Geely Auto surged 4.2% following its $2.2 billion bid to take its EV unit, Zeekr, private. Other notable performers included Li Auto, which rose by 5.2%, Wuxi Biologics, up by 4.2%, and Meituan, with an increase of 1.6%.