Hong Kong stocks finish strong as Trump relents on tariffs

Hong Kong stocks regained ground on Friday, buoyed by US President Donald Trump's hints of a softer stance on tariffs on China.

The benchmark Hang Seng Index increased by 365.63 points, or 1.86 percent, to 20,066.19 points at the close. The main board's turnover was HK$159.8 billion.

The top two gainers among blue chip stocks – Sunny Optical Technology (2382) and Xiaomi (1810) – saw shares go up by 8 and 6.8 percent, respectively.

ENN Energy (2688) was the worst performer with a decline of 3.2 percent, followed by Hang Lung Properties (0101), whose shares slid by 2.6 percent after cutting its final dividend by a third.

The Hang Seng Tech Index rose by 3.15 percent to 4,657.61 points.

The HSI grew by 2.5 percent this week while the tech gauge gained nearly 4 percent.

In China, the Shanghai Stock Exchange Composite Index climbed 0.7 percent to 3,252.63 points, while the Shenzhen Stock Exchange Composite closed 1.2 percent higher at 1,936.35 points.

The US dollar index fell below 108 after Trump called for an immediate drop in interest rates, prompting the yuan to hit the highest in more than one month. The onshore yuan was traded below 7.24 against the greenback.

STAFF REPORTER