Hong Kong stocks rose slightly on Tuesday as the US continued showing signs of flexibility in its tariff policy, while investors awaited China's GDP data.
The Hang Seng Index climbed 0.23%, or 48.87 points, to end at 21,466.27. The Hang Seng China Enterprises Index rose 0.21%, or 17.07 points, to 7,982.88.
After the exemption of smartphones and electronic items from its reciprocal tariffs, the Donald Trump-led US government is now considering a temporary waiver on cars from the levies, the SCMP reported.
The US Commerce Department, however, is looking to probe the pharmaceutical and semiconductor industries, which could possibly lead to duties on the sectors, according to the same news report.
Investors are also awaiting China's GDP data for the first quarter of 2025, which is expected to be released on Wednesday, April 16.
GDP growth is expected to slow to 5.1% year over year in the first three months of 2025 from 5.4% in the quarter ended Dec. 31, 2024, according to Reuters-polled economists.
In corporate news, Duality Biotherapeutics (HKG:9606) made a stellar trading on the Hong Kong bourse on Tuesday. Shares of the Chinese biotech firm closed at HK$205, 117% higher than its IPO price of HK$94.60.
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