09:24
Hong Kong Stock Market Morning Review: Tariff War "Thaws", Hang Seng Index Opens 2.4% Higher, Hang Seng Tech Index Opens 3.5% Higher
On April 23, according to GuruFocus, U.S. Treasury Secretary softened his stance towards China, stating that the tariff standoff is unsustainable and predicting that the situation will ease soon. Additionally, Trump appeared to make concessions on trade policy and the issue of Powell's tenure. Overnight, the three major U.S. stock indices surged over 2.5%, with the China concept index rising 3.69%.
Affected by this, the three major Hong Kong stock indices collectively opened higher this morning. The Hang Seng Index opened 2.4% higher at 22,080 points, the Hang Seng Tech Index opened 3.5% higher, and the HSI opened 2.54% higher.
In terms of individual stocks, Tencent and JD.com rose over 3%, Alibaba and Xiaomi rose over 5%, while Meituan and NetEase rose over 2%.
U.S. Treasury Secretary Scott Bessent stated at a private investor summit hosted by J.P. Morgan in Washington, D.C. on Tuesday: The tariff standoff with China is essentially an embargo, which is unsustainable, and the situation is expected to ease in the "near future."
On Tuesday, Trump responded to reporters' questions in the Oval Office at the White House, saying that the U.S. has good relations with China and other countries, contrary to the previous U.S. administration. He believes that the tariffs ultimately imposed on Chinese imports will be lower than the current 145%, significantly reduced, but not to zero.