FX.co ★ Hang Seng Finishes 0.4% Higher

The Hang Seng Index advanced by 100 points, or 0.4%, closing at 23,382 on Tuesday. This rise partially offset the losses from the previous session, as gains were observed across various sectors. Market sentiment was bolstered by reports indicating an uptick in China's industrial profits for April, reflecting economic resilience amidst ongoing U.S. trade tensions and deflation concerns. Additionally, a rally in U.S. futures enhanced the positive outlook, as Wall Street prepared to reopen following Monday's holiday closure. In a related development, President Trump retracted his earlier threat to impose 50% tariffs on EU imports, reinstating the original July 9 deadline. Nonetheless, the upward movement was limited by Hong Kong's trade data for April, which showed imports increasing at a faster rate than exports, thus widening the trade deficit. Investor caution also surfaced amid intensifying price competition among Chinese electric vehicle manufacturers. Looking forward, the release of China’s official PMI data for May, expected this weekend, will be closely monitored due to ongoing concerns regarding weak factory activity. Among the top performers were Smoore International (rising 9.3%), Mixue Group (up 8.9%), Pop Mart International (gaining 5.1%), and Hansoh Pharmaceuticals (up 3.7%).