FX.co ★ Hang Seng Finishes 0.6% Higher

On Wednesday, the Hang Seng Index increased by 149 points or 0.6%, closing at 24,221, thereby breaking a three-day losing streak with gains observed across most sectors. Sentiment was buoyed by a slight rise in U.S. futures, as robust May job openings bolstered confidence in the labor market's strength. Optimism was further supported by the expectation from U.S. Treasury Secretary Bessent that the Federal Reserve might begin reducing interest rates by September, in line with President Trump's advocacy for monetary easing. Concurrently, investors are eagerly anticipating China’s forthcoming Politburo meeting, where new stimulus measures might be introduced to mitigate the impact of substantial U.S. tariffs. Nonetheless, caution prevailed following President Trump's decision to uphold the July 9 tariff deadline, limiting further gains. Among significant movers, New World Development surged by 9.7% following a USD 11.2 billion refinancing agreement, while Geely Auto advanced 2.4% after adjusting its fiscal year sales target to 3 million units. Other noteworthy performers included Sands China, which rose by 5.8%, Galaxy Entertainment up by 5.7%, and CSPC Pharma gaining 3.5%.