HK stocks track broader gains in region
The Hang Seng Index ended the day at 24,148.07, up 260.24 points or 1.09 percent. File photo: RTHK
Mainland Chinese and Hong Kong stocks ended higher on Tuesday, tracking broader gains in Asia, as investors looked past the latest shift in US President Donald Trump's tariff plans and welcomed Beijing's new measures to curb price wars.
The benchmark Hang Seng Index ended trading for the day up 260.24 points, or 1.09 percent, at 24,148.07.
Up north, the benchmark Shanghai Composite Index closed up 0.7 percent at 3,497.48 while the Shenzhen Component Index rose 1.46 percent to 10,588.39.
The combined turnover of these two indices stood at 1.45 trillion yuan, up from 1.21 trillion yuan a day ago.
The photovoltaic sector was among the top performers, while stocks related to insurance and banking led losses.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 2.39 percent to close at 2,181.08.
China's top leaders pledged last week to step up regulation of aggressive price-cutting by Chinese companies, as the world's second-biggest economy struggles to shake off persistent deflationary pressures.
Shares of solar manufacturers led gains onshore, with Tongwei up 10 percent, after China's industry ministry pledged to curb disorderly low-price competition in the photovoltaic industry.
Deeper policy efforts to curb excessive competition are expected to help rebalance industrial supply and demand, support a rebound in producer prices, and improve long-term earnings expectations for A-shares, analysts at Huaxi Securities said in a note.
Semiconductor shares also rose, up 1.2 percent, as a slew of companies posted upbeat profit alerts.
Consumer-related shares climbed in Hong Kong, as subsidies from food-delivery platforms boosted consumer demand. Xiabuxiabu, a hotpot restaurant, rose nearly 6 percent.
The Hang Seng Tech Index was up 1.8 percent.
Traders are watching for China's key inflation data due on Wednesday to gauge the health of the world's second-largest economy in the face of persistent deflation pressure and trade risks. (Reuters/Xinhua)
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