Published on 05/14/2025 at 04:57
(MT Newswires) -- Hong Kong stocks rebounded Wednesday from a loss in the previous day following JD.com's (HKG:9618) strong quarterly earnings.
The Hang Seng Index surged 2.3%, or 532.38 points, to end at 23,640.65. The Hang Seng China Enterprises Index rose 2.47%, or by 206.86 points, to 8,593.07.
Investor sentiment improved after JD.com reported an attributable profit of 10.9 billion yuan in the first quarter, up from 7.13 billion yuan a year prior. The e-commerce giant's revenue also grew 16% to 301.1 billion yuan.
Chinese tech giants Tencent and Alibaba each gained 3% ahead of the release of their earnings reports.
Additionally, shipping firms in Hong Kong advanced on expectations of a boost in demand fueled by a temporary reduction in US tariffs as a result of a trade truce.
Retailers are expected to take advantage of the lower levies and stockpile for the Black Friday and Christmas seasons, the Financial Times reported.
The US will also slash the "de minimis" duty for low-value Chinese imports to as little as 30%, Reuters reported, citing a White House executive order and industry experts.
As a result, Orient Overseas (International) and COSCO Shipping added 5% and 3%, respectively.

Sumber : MT Newswires