Hong Kong stocks rise on China stimulus hopes, ignore Wall Street sell-off

Name: Chinese factory aims to double turnover despite Trump’s tariff war by finding new markets
Uploaded: 2025-04-22T01:48:16.000Z
Duration: 2 min 40 s
Description: Chinese factory aims to double turnover despite Trump’s tariff war by finding new markets

Hong Kong stocks erase losses sparked by President Donald Trump’s threat to replace Federal Reserve chair Jerome Powell

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Hong Kong’s stock market reopened on Tuesday after a long weekend. Photo: Jonathan Wong

Zhang Shidongin Shanghai

Published: 9:48am, 22 Apr 2025Updated: 4:47pm, 22 Apr 2025

Hong Kong stocks rose on Tuesday on expectations of more policy support for China’s economy, countering a sell-off earlier in the day spurred by US President Donald Trump’s comments on the Federal Reserve’s monetary policy.

The Hang Seng Index closed 0.8 per cent higher at 21,562.32. The Hang Seng Tech Index added 0.2 per cent. Hong Kong’s market was closed on Friday and Monday for the Easter holiday.

On the mainland, the CSI 300 Index slipped less than 0.1 per cent and the Shanghai Composite Index advanced 0.3 per cent.

Gold producer Zijin Mining Group rallied 5.2 per cent to HK$18.12 after bullion prices topped US$3,400 an ounce for the first time. Chow Tai Fook Jewellery Group gained 3.3 per cent to HK$9.69. CSPC Pharmaceutical Group jumped 8.8 per cent to HK$6.05 and Hansoh Pharmaceutical Group surged 7.2 per cent to HK$23.70.

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Chinese factory aims to double turnover despite Trump’s tariff war by finding new markets

Expectations are high that China will introduce fresh stimulus policies to bolster domestic demand and shore up asset prices. Premier Li Qiang said on Friday that measures would be taken to stabilise stock and property markets.