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Hong Kong stocks rebounded from Tuesday morning’s low and edged up slightly at the close, boosted by gold miner shares' ascent amid escalating Sino-US tariff wars.
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The benchmark Hang Seng Index recorded 21,532 points, up by 167 points or 0.78 percent.
The indicator once slumped to as low as 21,191 points. The main board turnover was HK$251.5 billion.
The Hang Seng Tech Index rose 0.24 percent to 4,899 points.
Zhaojin Mining Industry (1818) rose 5.71 percent higher to HK$20, Zijin Mining (2899) climbed 4.65 percent, and Chifeng Jilong Gold Mining(6693) jumped 8.59 percent.
Gold prices once broke above US$3,500 (HK$27,300) per ounce, reaching an all-time high.
US President Donald Trump’s attacks on the US central bank boss intensified the market’s safe-haven rush.
In a social media post, Trump called Federal Reserve chair Jerome Powell "a major loser" for not lowering interest rates and urged him to cut interest rates "preemptively" to help boost the US economy.
Shares of Meituan (3690) and JD.com (9618) dropped 4.62 and 6.32 percent, respectively, against the backdrop of verbal fighting between the two key players in China's food delivery market.
Chinese toy titan Pop Mart International's (9992) shares once hit a record high or HK$176.40 before closing at HK$175.90.
Luk Fook (0590) closed 11.8 percent higher at HK$17.10 after once hitting as high as HK$17.72. It announced a better overall retail sales performance for the quarter that ended in March compared to the preceding three quarters.
In mainland China, the Shanghai Composite Index rose 0.25 percent, or 8 points, to 3,299 while the Shenzhen Component Index lost 35 points, or 0.36 percent, closing at 9,870.
STAFF REPORTER
