Hong Kong stocks rose for a third straight session on Thursday, joining a global rally triggered by the US temporarily suspending new tariffs for numerous trading partners.
The Hang Seng Index soared 2.06%, or 417.29 points, to end at 20,681.78. The Hang Seng China Enterprises Index advanced 1.76%, or 132.7 points, to 7,668.38.
US President Donald Trump's overnight announcement of a 90-day tariff reprieve for most of America's trading partners fueled the international market rally.
However, China and Hong Kong were excluded from this relief. The US increased tariffs on Chinese goods to 125% from 104%, following Beijing's 84% retaliatory tariffs on US imports.
Despite the tariff hike, investor sentiment in Hong Kong remained positive due to the possibility of talks between the leaders of the world's two largest economies.
As reported by The Wall Street Journal, Trump indicated his openness to a meeting with Chinese President Xi Jinping. In response, China's commerce ministry stated that Beijing would engage in negotiations only if they were grounded in mutual respect and equality.
In corporate news, Chalco's (HKG:2600, SHA:601600) Hong Kong-listed shares closed 5% higher after its controlling shareholder boosted its stake in the firm to 32.57%.
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