The Hang Seng Index climbed 0.6%, or 145 points, to 24,354 on Tuesday, recovering from early losses as investors digested stronger-than-expected Chinese trade data. Both June exports and imports beat forecasts, underscoring resilient external demand. Sentiment was further lifted by optimism surrounding Hong Kong’s IPO pipeline, although upside remained constrained by ongoing geopolitical tensions and elevated oil prices.
Shein remained in the spotlight after Executive Chairman Donald Tang resigned ahead of the company’s planned Hong Kong listing, with founder and CEO Sky Xu stepping into the chairman role. While the leadership reshuffle is not expected to derail the IPO, investors are closely monitoring corporate governance developments.
Market focus now shifts to China’s second-quarter GDP and a raft of key economic indicators due on Wednesday. Among the session’s top gainers were Kingboard Laminates (+13.7%), China Hongqiao (+7.1%), Kuaishou (+2.8%), Shanghai Iluvatar CoreX (+1.6%), and Meituan (+1.4%).
