The Hang Seng Index jumped 1.9 per cent to 21,980.78 at 9.40am local time, the most since April 14. The Hang Seng Tech Index added 2.3 per cent. On the mainland, the CSI 300 Index rose 0.1 per cent, while the Shanghai Composite Index fell 0.1 per cent.
Technology firms and exporters led the market higher. E-commerce giant Alibaba Group Holding jumped 5.8 per cent to HK$116.40, while short-video platform Kuaishou Technology advanced 3.8 per cent to HK$51.95, and smartphone and carmaker Xiaomi gained 5.3 per cent to HK$46.75. Apparel maker Shenzhou International Group added 4.2 per cent to HK$52.65 and Apple supplier Sunny Optical Technology Group strengthened 4.6 per cent to HK$65.80.
On the flip side, Zijin Mining Group fell 1.4 per cent to HK$17.76, while China Mobile lost 1.7 per cent to HK$81.5.
Overnight, US stocks rose after Trump said he had no intention of firing Fed chair Jerome Powell, pushing the S&P 500 Index 2.5 per cent higher. Trump also pledged to make a “nice” deal with China that would not be anywhere near the 145 per cent he has set.
Earlier on Tuesday, US Treasury Secretary Scott Bessent told investors in a closed-door meeting that the tariff stand-off with China was unsustainable by both sides and that the world’s two largest economies would have to find ways to de-escalate.
