Hong Kong stocks jump as trump pauses tariffs, raises China duties to 125pc

Hong Kong stocks rose on Thursday, after US President Donald Trump paused many new tariffs, even as he escalated tensions with Beijing by raising duties on Chinese goods to 125 percent.

Hong Kong’s benchmark Hang Seng Index opened 545 points higher, or 2.7 percent, at 20,810.

The China Enterprises Index jumped 183 points, or 2.44 percent, to 7,719, while the Hang Seng Tech Index surged 3.96 percent to start the day at 4,875.

Tech stocks led the gains, with Tencent (0700) and Alibaba (9988) both rising 4.3 percent. JD.com (9618) climbed 3.4 percent, Meituan (3690) added 1.3 percent, while Xiaomi (1810) and Semiconductor Manufacturing International (0981) extended Wednesday’s rally with gains of nearly 7 percent and 4.5 percent, respectively.

STAFF REPORTER