FX.co ★ Hong Kong Shares Rise as Trading Resumes

Hong Kong stocks experienced an upswing on Tuesday as the market reopened after the holiday, with the index climbing 142 points, or 0.6%, to reach 22,645 in early trading. This increase marked the fourth consecutive session of gains, driven by sector-wide boosts, particularly within financials, property, and consumer sectors, which pushed the index to a one-month peak. Investor sentiment received an additional lift from preliminary data indicating a 3.1% year-on-year economic growth for Hong Kong in the first quarter of 2025, representing the strongest pace in five quarters. This growth was fueled by an upsurge in tourism and robust export activities in anticipation of impending tariff hikes by U.S. President Trump. Meanwhile, stock markets in China resumed trading with signs of Beijing's openness to discussions concerning the 145% tariffs proposed by the U.S. Nevertheless, potential further gains were tempered by private survey results showing China's services sector recorded its slowest expansion in seven months this April due to a notable deceleration in new orders and a significant dip in business confidence, now at its second-lowest recorded level. Leading the charge among large-cap stocks were Sands China, which surged 6.6%, Chow Tai Fook Jewellery, up by 6.4%, Nongfu Spring, rising by 5.7%, and Meituan, increasing by 4.1%.