Hong Kong stocks rise for a third day as investors look past US car tariffs

South China Morning Post

28-03-2025

Hong Kong stocks rose for a third day on Friday, as investors' worries about US car tariffs eased although more tariff announcements loomed on April 2.
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The Hang Seng Index added 0.3 per cent to 23,658.46 as of 10.10am. The Hang Seng Tech Index rose 0.1 per cent. On the mainland, the CSI 300 Index traded 0.2 per cent lower, while the Shanghai Composite Index declined 0.3 per cent.
Sportswear maker Li Ning added 4.4 per cent to HK$17.88 after its full-year sales and operating profit exceeded analysts' expectations. Alibaba Group Holding rose 1.8 per cent to HK$132.50, while Tencent Music Entertainment gained 2.1 per cent to HK$57.80. Trip.com advanced 2.1 per cent to HK$511.00.
Having digested US President Donald Trump's 25 per cent tariffs on car imports, investors are bracing for a slew of new tariff announcements on April 2, which are likely to fuel inflation in the US.
Trimming the gains, Nio sank 7.5 per cent to HK$30.10 after it announced a new share placement in Hong Kong, joining its peers BYD and Xiaomi selling additional shares this month. Haier Smart Home dropped 5.1 per cent to HK$25.35 after its net income for the full year missed estimates, while laptop maker Lenovo Group declined 4.1 per cent to HK$10.90.
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ICBC, China's biggest bank by assets, dropped 0.5 per cent to HK$5.51, while China Construction Bank was mostly flat. Both banks will announce their results later in the day.