Market Updates
China Indexes Traded at Multi-Year Highs Amid Rising Prospects of U.S. Trade Deal
Li Chen
24 Jul, 2025
Hong Kong
Stock market indexes in China and Hong Kong extended gains, and they traded near 40-month highs amid improving sentiment for trade agreements.
The Hang Seng index increased 0.6%, and the mainland-focused CSI 300 index gained 0.5%, as investors hoped that the U.S.-China trade agreement is more likely as early as this week.
The U.S. and Japan agreed to a revised trade framework that will increase import duties on Japanese goods to 12.5% from the current 2.5%.
However, no start date for the revised tariffs has been set.
Meanwhile, the U.S. president and Japan promoted the trade agreement as "the largest deal," but the new proposed tariffs significantly put additional burden on international trade.
The Trump administration had threatened 25% tariffs on Japanese goods starting August 1, but as in the past, the U.S. president always backed down from his initial bold threats.
China Indexes and Stocks
Stocks advanced following gains in overnight trading in New York, after the U.S. president claimed a trade agreement with Japan and signaled progress in talks with the European Union.
The Hang Seng index advanced 0.6% to 25,688.87, and the mainland-focused CSI 300 index added 0.5% to 4,138.47.
Electric vehicle makers advanced in the hopes that the U.S.-China agreement is more likely ahead of the deadline next week.
Li Auto Inc. increased 0.5% to HK $120.10, BYD Class H advanced 0.4% to ¥123.50, and Xpeng Inc. gained HK $76.10.
SMIC jumped 4% to HK $50.70, SenseTime Group inched up a fraction to HK $1.60, and Xiaomi Corp. edged down 0.1% to HK $58.40.
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