FX.co ★ Hang Seng Closes 0.6% Higher

On Wednesday, the Hang Seng index added 139 points, or 0.6%, closing at 23,483, partially recovering from a nearly two-week low seen in the previous session. Investor sentiment improved following indications from the Trump administration that upcoming US tariffs might be more focused than initially anticipated. The market also reacted positively to news of Morgan Stanley raising its year-end targets for Chinese stocks in 2025, and projections from Goldman Sachs strategists pointing to potential gains fueled by positive earnings revisions. Geopolitical factors also contributed to the upbeat sentiment, with the US announcing a ceasefire in the Black Sea involving Russia and Ukraine. However, a slight dip in US futures limited the index's gains, as market participants remained cautious ahead of upcoming key US PCE inflation data later this week.

Most sectors gained ground, with technology, consumer, and property sectors leading the way. WH Group surged 4.7% on the back of profit growth and the announcement of a special dividend, while Alibaba saw a 1.4% increase following its partnership with BMW AG on AI technology for cars in China. Other major gainers included Shenzhou International, which rose 12.4%, Haidilao International, up 6.1%, and Akeso Inc., which gained 4.0%.