Hong Kong Stocks Surge Amid Listing Revival and Trade Easing
Hong Kong stocks saw a significant rise, marking a sixth consecutive weekly gain, driven by a strong listing market and reduced Sino-U.S. trade tensions. The Hang Seng Index showed notable growth, boosted by successful debuts, including CATL and Jiangsu Hengrui, uplifting the healthcare and auto sectors.
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- China
In a significant boost to investor confidence, Hong Kong stocks surged on Friday, set for a sixth straight week of gains. Renewed momentum in the listing market and easing Sino-U.S. trade tensions played a pivotal role in this upward trend.
The Hang Seng Index rose by 0.6% on the day, and is up 1.4% for the week, reflecting strong performances in both listings and corporate earnings. China's CSI300 Index and Shanghai Composite Index also posted gains, climbing 0.3% and 0.1%, respectively.
Notable market movements included a strong debut by battery manufacturer CATL, raising $4.6 billion, and Jiangsu Hengrui's pharma share price soaring over 30%. The automotive sector received a boost as BYD outperformed Tesla in European EV sales, pushing both its and Li Auto's shares higher.
(With inputs from agencies.)
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