The Hang Seng Index added 0.7 per cent to 26,624.17 as of 9.55am local time, on track for the highest close since August 11, 2021. The Hang Seng Tech Index added 2.1 per cent. On the mainland, the CSI 300 Index lost 0.1 per cent, while the Shanghai Composite Index added 0.1 per cent.
Search-engine giant Baidu jumped 10 per cent to HK$124.80, and food-delivery service provider Meituan gained 2.7 per cent to HK$103. E-commerce company JD.com advanced 4.1 per cent to HK$135.20 while peer Alibaba Group Holding added 2.8 per cent to HK$157.80. WeChat operator Tencent rose 0.3 per cent to HK$647 after announcing it raised 9 billion yuan (US$1.3 billion) in a three-tranche offshore yuan bond deal, the first such move in four years.
Gold miner Zijin Mining Group slumped 2.9 per cent to HK$28.48, while blind box toymaker Pop Mart International dropped 1.1 per cent to HK$253.80 and pharmaceutical firm Wuxi AppTech slipped 1.5 per cent to HK$108.50.
Investors are seeking signals on the Federal Reserve’s policy trajectory that could define the outlook for the coming months, with markets pricing in a quarter-point cut while some bond traders are betting on a half-point move.
China hailed the framework agreement to shift TikTok’s US assets to American ownership as a “win-win”, with state media stressing the deal was grounded in mutual respect and cooperation. The agreement, expected to be confirmed in a Friday call between Trump and Xi, is seen as pivotal to sustaining dialogue between the world’s two largest economies.
