In early trading on Thursday, Hong Kong's stock market experienced an upswing, gaining 128 points or 0.5%, bringing the index to 25,670. This marked the fifth consecutive session of gains, positioning stocks at nearly a four-year peak. This upward trend was influenced by record-breaking closures on Wall Street, driven by a trade pact between the United States and Japan. Market sentiment was further buoyed by progress in the EU and U.S. trade agreement discussions, which involve 15% tariffs on European imports, with certain products receiving exemptions.
Further optimism prevailed in anticipation of an upcoming meeting in Stockholm next week between U.S. and Chinese officials to deliberate on prolonging the existing tariff ceasefire. Moreover, reports suggesting a potential visit by President Trump to China to address trade and security issues contributed positively to market sentiment. In mainland China, stock market activity surged to near a five-month high in daily turnover. Despite this positive movement, further advances were tempered by investor caution regarding the forthcoming Chinese industrial profit data. Leading sectors included Akeso Inc., which rose by 4.7%, CK Hutchison, up by 2.8%, SMIC, increasing by 2.4%, and Citic Ltd., which gained 2.2%.
