Hang Seng Pares Gains at Finish

2025-05-08 08:18 By Farida Husna 1 min. read

The Hang Seng rose 84 points or 0.4% to close at 22,776 on Thursday, marking its sixth straight gain amid a rally in U.S.

futures.

Optimism was fueled by President Trump’s hint at a major trade deal with a “big, and highly respected country,” likely the UK, with more details expected later today.

The index hovered near a one-month top, as Huanjin, a sovereign wealth fund would continue efforts to support Chinese markets.

Sentiment also benefited from the PBOC rate cuts aimed at propping up growth amid U.S.-China trade disputes.

Tech stocks advanced on reports that the U.S.

may ease chip export curbs, alongside renewed backing from Beijing for the sector.

However, gains were trimmed later in the session amid doubts over new fiscal measures in China and caution ahead of trade and inflation figures in April in the mainland.

Geely Auto jumped 4.2% after offering $2.2 billion to privatize its EV unit Zeekr.

Li Auto (5.2%), Wuxi Biologics (4.2%), and Meituan (1.6%) also posted strong gains.



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