Hong Kong stocks rise ahead of US-China trade talks focused on de-escalation
Hong Kong stocks rise as US-China trade talks seek de-escalation, boosting Hang Seng Index
The Hang Seng Index rose 0.1 per cent to 22,691.88 at the close on Wednesday, while the Hang Seng Tech Index was down 0.8 per cent. Both indices were higher earlier in the day. On the mainland, the CSI 300 Index closed 0.6 per cent higher and the Shanghai Composite Index rose 0.8 per cent.
Hong Kong stocks have recovered somewhat since April 2 when US President Donald Trump applied tariffs on Washington’s trading partners, with China bearing the brunt of the onslaught. As of Tuesday, the Hang Seng Index was down by around 2 per cent from April 2.
Early on Wednesday, the US and China said tariff-focused trade talks would begin later this week in Switzerland. Chinese Vice-Premier He Lifeng was expected to meet with US Treasury Secretary Scott Bessent from May 9 to 12. The Geneva meeting would be the first confirmed talks between the two countries since the tariffs were rolled out more than a month ago.
In an interview with Fox News, Bessent said the talks would focus on de-escalation rather than a big trade deal.