Hong Kong stocks rise on easing tariff tensions as precious metals gain
Sentiment improves after US President Donald Trump says he will cut tariffs on India and gold and silver stabilise
The Hang Seng Index climbed 0.2 per cent to 26,830.23 at the noon trading break, paring some of the 2.2 per cent loss recorded in the previous session. The Hang Seng Tech Index fell 1.3 per cent. On the mainland, the CSI 300 Index lifted 0.1 per cent and the Shanghai Composite Index added 0.4 per cent.
Blind-box toymaker Pop Mart International jumped 3.1 per cent to HK$233.40, while online travel-booking agency Trip.com rose 1.2 per cent to HK$483.40. Lender HSBC advanced 2.5 per cent to HK$138, and gold miner Zijin Mining Group gained 2 per cent to HK$40.36.
Technology giants took losses. Search-engine firm Baidu dropped 3.5 per cent to HK$141.50, short-video sharing platform Kuaishou Technology slid 4.4 per cent to HK$73.60 and smartphone and car maker Xiaomi fell 1.1 per cent to HK$34.66.
In Shanghai, chip designer Cambricon Technologies slumped 13 per cent to 1,082.09 yuan and peer Moore Threads Technology dropped 4.7 per cent to 543.19 yuan.
Overnight in the US, the S&P 500 Index rose 0.5 per cent and the Dow Jones Industrial Average gained 1.1 per cent. Sentiment improved after US President Donald Trump said he would cut tariffs on India to 18 per cent after Prime Minister Narendra Modi agreed to halt purchases of Russian oil. Gold prices later jumped 2.8 per cent and silver surged 4.5 per cent, snapping a three-day losing streak.