Hong Kong stocks up after US-China talks triggers cautious optimism, data eyed
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Hong Kong stocks edged up in early trade driven by cautious optimism around US-China talks. The Hang Seng Index gained 0.8% to 16,862.981 as of 10.32am local time. The Hang Seng Tech Index added 1.1% and the Shanghai Composite Index climbed 0.1%. Gold producer Zijin Mining Group rallied 3.2% after bullion prices rose to a record. Electric vehicle makers Li Auto rose 4.1% and BYD climbed 2.2% after China Commerce Minister Wang Wentao said accusations of EV overcapacity are groundless. Baidu slid 2.5%, Li Ning lost 2.7%, and Tencent Holdings retreated 1.3%. China is due to release March inflation data on Thursday and foreign trade statistics on Friday. Two companies started trading on the mainland exchanges: Changzhou Wujin Zhongru Electronic Technology jumped 87% and Wuxi Dingbang Heat Exchange Equipment surged 108%.
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