Hong Kong stocks rose on Thursday, as investors shrugged off tariffs on car imports by US President Donald Trump and heavy overnight losses on Wall Street.
The Hang Seng Index was up 1 per cent to 23,729.33 at the noon break, extending gains for a second day. The Hang Seng Tech Index rose 1.3 per cent to 5,647.45. On the mainland, the CSI 300 Index traded 0.4 per cent higher, while the Shanghai Composite Index gained 0.3 per cent.
Chinese electric-vehicle makers were mixed as the impact on them was likely to be muted because they have very little exposure to the US. Li Auto rose 2.4 per cent, BYD was up 2.3 per cent and Geely Auto traded 0.2 per cent higher. Xiaomi fell 2.8 per cent and Nio declined 3.6 per cent.
CK Hutchison Holdings added 1.2 per cent to HK$45.85 after the Post reported that the Hong Kong government and the company were discussing “a reasonable way out” for sealing a controversial sale of its port assets that includes two Panama ports to a consortium led by US investment firm BlackRock.
Trump on Wednesday signed an executive order to slap a 25 per cent tariff on all cars not made in the US effective from April 2, saying “this will continue to spur growth”.
