Market Updates
China Stock Indexes Advance After Investors Return from Golden Week Holidays
Li Chen
06 May, 2025
Hong Kong
Stock market indexes in China and Hong Kong advanced despite elevated trade tensions with the U.S.
The Hang Seng index advanced 0.5%, and the CSI 300 index gained nearly 1% as foreign investors stepped up purchases in Hong Kong and China.
The Hong Kong Monetary Authority was forced to intervene for the third time in four days to keep the local currency's peg to the U.S. dollar amid rising net inflows from foreign investors.
The Hong Kong dollar traded near the upper end of its trading range at 7.757 against the U.S. dollar, as investors chased technology and financial stocks.
The Hong Kong Monetary Authority sold a record HK$60 billion and purchased $7.8 billion at an exchange rate of HK$7.75 for every U.S. dollar, according to a statement available on the de facto central bank's website.
In overnight trading, the U.S. market indexes declined as much as 0.9% amid growing conviction that the Federal Reserve is less likely to cut rates at the end of a two-day meeting on Wednesday because high level of uncertainty linked to tariffs.
China Indexes and Stocks
The Hang Seng index added 0.5% to 22,617.36, and the mainland-focused CSI 300 index added 0.9% to 3,802.73.
AIA Group Ltd. increased 2.7% to HK$60.70, Ping An Insurance Company edged down 0.6% to HK$46.30, and China Life Insurance added 0.4% to HK$14.56.
BYD increased 0.6% to HK $384.60, Xiaomi decreased 2.6% to HK $51.70, and Li Auto Inc. declined 1% to HK $97.65.
Alibaba Group Holding gained 1.1% to HK $123.40, Tencent Holdings advanced 1.3% to HK $494.20, and Meituan jumped 4.3% to HK $138.20.
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