Hang Seng Index soars, tracking Asian stock markets, as Trump hits pause on most tariffs

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Hang Seng Index soars, tracking Asian stock markets, as Trump hits pause on most tariffs

Hong Kong’s benchmark stock index soared on Thursday, tracking advances across most Asia-Pacific markets, after US President Donald Trump put a 90-day pause on import tariffs for most of America’s trading partners – except China.

The Hang Seng Index rose 1.8 per cent to 20,628.86 at the local noon trading break, adding to a gain of 0.7 per cent from a day earlier. The Hang Sang Tech Index gained 2.4 per cent. The CSI 300 Index, which tracks the 300 largest companies in Shanghai and Shenzhen, rose 1 per cent. The Shanghai Composite Index increased 0.9 per cent and the Shenzhen Composite Index rose 2.5 per cent.

All but six of the Hang Seng Index’s 83 members strengthened, with exporters and manufacturers leading gainers. Optical lens maker Sunny Optical Technology jumped 5.7 per cent to HK$62.35, electric-car maker Li Auto advanced 3.9 per cent to HK$84.65 and PC maker Lenovo Group surged 6.5 per cent to HK$7.99.

Benchmarks surged across most Asia-Pacific markets. The Nikkei 225 index surged 8.2 per cent, lifting Japan’s stock index out of a bear market. South Korea’s Kospi Index added 5.4 per cent and Australia’s S&P/ASX 200 Index jumped 4.6 per cent.

07:26

Stock markets in Asia resume slump as hefty US tariffs on China take effect

Overnight, Trump unveiled a 90-day pause on applying tariffs on its trading partners, excluding mainland China and Hong Kong. That announcement sent Wall Street on a tear, driving a 9.5 per cent gain in the S&P 500 Index, while the Nasdaq Composite Index closed 12.2 per cent higher for the biggest rally in 24 years.

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