Equity markets in Hong Kong experienced an uptick, gaining 114 points or 0.5%, reaching a mark of 23,626 by midday on Wednesday. This marked a second consecutive day of gains, primarily driven by robust performance in the consumer and technology sectors. Investor sentiment was buoyed by positive cues from Wall Street overnight, coupled with the anticipation of discussions scheduled later in the week between U.S. President Donald Trump and Chinese President Xi Jinping. These discussions are expected to focus heavily on resolving ongoing trade and tariff issues.
In other developments, reports from local media indicate that Hong Kong is planning to issue infrastructure and green bonds denominated in offshore renminbi, Hong Kong dollars, euros, and U.S. dollars. This move is part of the government's broader sustainable bond initiative.
Furthermore, new data indicates that private sector activity in Hong Kong contracted at its slowest pace in three months during May, as highlighted by a recent private survey. Notably, sales to mainland China have stabilized after a period of decline. Significant gains in the market were observed in Smoore Holdings (up 6.2%), Mixue Group (up 4.9%), Pop Mart International (up 4.1%), Xiaomi Corp. (up 2.2%), and Meituan (up 1.5%).
