Hong Kong stocks rose for a second straight day on Wednesday after US President Donald Trump said he has "no intention" of firing the Federal Reserve chief and hinted at lower tariffs for China.
The Hang Seng Index surged 2.37%, or 510.3 points, to end at 22,072.62. The Hang Seng China Enterprises Index advanced 2.08%, or 165.49 points, to 8,116.28.
Trump walked back on threats to fire Fed Chair Jerome Powell but reiterated that he expects the US central bank to be more proactive in lowering interest rates, Reuters reported.
Sentiment was further lifted after Trump said he wants to do a deal with China to "substantially" lower tariffs, but stated that he would set the terms if Beijing did not enter talks.
US Treasury Secretary Scott Bessent told a closed-door event in Washington that the tit-for-tat tariff dispute would de-escalate soon, South China Morning Post reported.
In corporate news, Hong Kong shares of BYD (SHE:002594, HKG:1211) closed nearly 4% higher after the Chinese carmaker unveiled profit distribution and capitalization plans by issuing bonus shares and converting capital reserves, raising its total share count to 9.12 billion from 3.04 billion.
Other tech giants also finished higher. Xiaomi (HKG:1810) and Alibaba (HKG:9988) gained 7% and 5%, respectively, while Tencent (HKG:0700) and Meituan (HKG:3690) both rose 3%.
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