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The CPC Politburo also announced measures to stabilize the labor market and bolster the economy.
Tech stocks led the rally, with the Hang Seng Tech Index gaining 1.96%.
- Tech giants Alibaba (09988.HK) and Baidu (09888.HK) soared 6.35% and 6.12%, respectively.
- BYD Electronic Intl. (00285.HK) jumped 8.42%, while NIO Inc. (09866.HK) surged 15.9%.
Mainland China’s equity markets posted modest gains. The CSI 300 added 0.38%, while the Shanghai Composite Index gained 0.56%. Despite Trump’s claims, China’s MFA dismissed Trump’s declaration of trade talks, capping the weekly gains. An MFA spokesperson reportedly stated:
“China and the US are not having any consultation or negotiation on tariffs. The US should stop creating confusion.”
For more analysis on the Hang Seng Index and global market trends, click here.
Commodities Drop on Trade Headlines
- Gold fell 0.25% to $3,319 amid easing jitters over the Fed and China.
- WTI crude oil prices dropped 1.18% to $62.745.
- Iron ore spot prices declined 2.17% on demand uncertainty.
ASX 200 Tracks Wall Street Higher
The ASX 200 extended its gains, climbing 1.91% in the week ending April 25. Falling 10-year US Treasury yields drove demand for high-yielding Aussie banks, while mining stocks rallied on trade developments.
- Commonwealth Bank of Australia gained 2.15%, marking a six-week winning streak.
- BHP Group Ltd. (BHP) and Rio Tinto Ltd. (RIO) rallied 4.33% and 3.03%, respectively.
Nikkei Gains on Trade Optimism
The Nikkei Index advanced 3.33%, supported by expectations of a US-Japan trade deal and a weaker Japanese Yen. The USD/JPY pair gained 1.08% to close the week at 143.637, snapping a three-week losing streak. A weaker Yen and a US-Japan trade deal could boost demand for Japanese goods and corporate earnings.
- Nissan Motor Corp. (7201) rallied 4.36%.
- Softbank Group (9984) soared 6.06%.
- Tokyo Electron (8035) jumped 8.89%.
Looking Ahead: Stats, Trade Talks, and Central Banks
Investors should continue tracking updates from Beijing on policy measures and ongoing trade updates. US-China trade developments remain key drivers for regional markets.
Economic data, including April’s NBS and Caixin PMIs (April 30) and the Bank of Japan policy decision (May 1), could impact markets. A surprise rate hike or hawkish BoJ stance could weigh on risk appetite.
In a volatile landscape, staying updated on trade, policy, and central bank moves remains critical. Access deeper Hang Seng insights here.
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