FX.co ★ Shares in Hong Kong Rise for 6th Session

Hong Kong's stock market experienced an upswing as it gained 187 points, or 0.8%, reaching 22,881 in early Thursday trading. This marks the sixth consecutive session of gains, buoyed by a moderate rise in U.S. futures following the Federal Reserve's decision to maintain its benchmark interest rate for the third meeting in a row, a move that was widely anticipated. In alignment with the Fed, the Hong Kong Monetary Authority (HKMA) kept its base rate steady at 4.75%. Market optimism was further boosted by news that President Trump plans to conduct a press briefing regarding a significant trade agreement. Meanwhile in China, the People's Bank of China (PBoC) announced comprehensive policy initiatives on Wednesday, including interest rate reductions, aimed at fostering growth amid intensifying trade tensions. The rally was primarily driven by consumer and technology stocks, although financial stocks underperformed. The market's upward trajectory was, however, restrained by concerns surrounding Beijing's hesitation to implement new fiscal measures. Investors also adopted a cautious approach in anticipation of crucial economic data from China, such as April's trade statistics and CPI/PPI reports. Among the top performers were Li Auto, which increased by 4.0%, Laopu Old with a 3.5% rise, Meituan up by 3.2%, and Tencent Holdings, which gained 1.3%.