China Markets Cautious Ahead of Bank Earnings, Policymakers Vow to Cushion Economy from U.S.-led Trade War

Li Chen
29 Apr, 2025
Hong Kong

Stock market indexes in China and Hong Kong traded in a tight range, and investors looked ahead to earnings from leading banks.

The Hang Seng index gained 0.4%, and the mainland-focused CSI 300 index declined 0.2%, amid ongoing trade tensions with the U.S.

ICBC, HSBC, and China Construction Bank are scheduled to release their earnings later today, and they are expected to deliver results that exceed market expectations. 

Investors remain optimistic about the stock market trajectory despite the elevated trade tensions between the U.S. and China, and policymakers in Beijing reiterated their commitment to achieving economic growth of 5% in 2025. 

Of the 470 million employed across all industries in China, about 12 million people are directly or indirectly linked with U.S. exports, according to a review of various government and private data available in China. 

China's top planning agency and Politburo reassured markets on Friday and Monday that the central government is prepared to help firms and people who are negatively impacted by the U.S. import taxes as high as 145%. 

 

China Indexes and Stocks

The Hang Seng index gained 0.4% to 22,062.02, and the mainland-focused CSI 300 index decreased 0.2% to 3,775.27. 

Li Ning Co. Ltd. declined 2% to HK $14.60, and the sporting goods retailer reported a same-store sales increase in the low single digits in the first quarter. 

HSBC Holdings decreased 0.1% to HK $85.60, ICBC edged lower 0.03% to HK $5.52, Bank of Communications fell 0.3% to HK $6.83, and China Construction Bank decreased 0.5% to HK $6.83. 

Alibaba Group Holding increased 0.7% to HK $116.90, Tencent Holdings fell 0.5% to HK $475.70, and Meituan added 4.7% to HK $134.30.