Hong Kong stocks extend longest streak in a year on China-US trade talks' progress
stocks rose for an eighth day on Monday, extending the longest winning stretch in a year as a de-escalation of the China-US trade war boosted risk appetite.
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The Hang Seng Index added 0.9 per cent to 23,068.17 as of 9.55am local time. The eight-day gain is the longest since the 10-day streak ending in May 2024. The Hang Seng Tech Index advanced 1.4 per cent per cent.
On the mainland, the CSI 300 Index climbed 0.5 per cent, and the Shanghai Composite Index added 0.4 per cent.
Companies that rely on overseas sales led the gain. Machine tool maker Techtronic Industries rose 4 per cent to HK$89.90 and Sunny Optical Technical Group jumped 5.1 per cent to HK$67.65. Household appliance maker Haier Smart Home advanced 3.3 per cent to HK$23.55.
China and the US said they made 'substantial progress' on trade talks after two days of negotiations in Switzerland. The two nations
agreed to establish a 'trade consultation mechanism', Chinese Vice-Premier He Lifeng told reporters.
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The two sides 'have taken important steps to resolve differences through equal dialogue and consultation'. They plan to issue a joint statement later on Monday and 'conduct further consultations on issues of mutual concern', China's official Xinhua News Agency said.
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