Hong Kong stocks rise as China trade data offsets Trump tariff threats
China’s exports rose 5.8 per cent in June, beating a 3.6 per cent increase forecast by financial data provider Wind
The Hang Seng Index closed 0.3 per cent higher at 24,203.32, after dropping as much as 0.2 per cent earlier, adding to the 0.5 per cent gain on Friday. The Hang Seng Tech Index rose 0.7 per cent. On the mainland, the Shanghai Composite Index advanced 0.3 per cent, while the CSI 300 Index added 0.1 per cent.
Electric-car maker Li Auto jumped 2.6 per cent to HK$111.50, while Alibaba Group Holding rose 1 per cent to HK$106.10. Coal miner Zijin Mining Group advanced 2.3 per cent to HK$20.45 and China Shenhua Energy added 5.2 per cent to HK$32.60.
Search-engine operator Baidu slumped 2.7 per cent to HK$84.15, while e-commerce giant JD.com slid 0.7 per cent to HK$122.40 and logistics firm ZTO Express lost 2 per cent to HK$144.70.
US President Donald Trump on Friday proposed raising baseline tariffs on imports to 15 to 20 per cent, and later threatened 30 per cent duties on goods from the European Union and Mexico from August 1, despite ongoing talks.