Hong Kong stocks edged up 25 points or 0.1% to 24,348 in early trade Friday following losses in the previous session, mainly supported by gains in consumer stocks.
An overnight rally on Wall Street lifted sentiment after the S&P 500 closed to a near record.
The White House’s efforts to downplay looming July tariff deadlines also helped soothe investor nerves.
However, upside momentum was capped by caution ahead of the U.S. PCE index release, the Fed’s preferred inflation measure, due later in the day.
Meanwhile, new data showed a slight drop in China’s industrial profits for the first five months, reflecting deflation risks and external trade challenges.
Among early movers were Xiaomi Corp. (up 5.9%), JD Logistics (3.2%), SMIC (2.4%), and Sunny Optical Tech (2.3%).
For the week, the Hang Seng is pacing for a robust gain of over 3.5%, bolstered by reports of a U.S.-China “framework” deal to resume rare earth shipments following the recent trade agreement.
