FX.co ★ Hang Seng Pares Gains After Two-Month High

The Hang Seng Index climbed 182 points, or 0.7%, concluding at 26,793 on Tuesday, marking its third consecutive day of gains across various sectors. This upswing was buoyed by easing trade tensions, with the European Union reconsidering its 2024 tariffs on Chinese-manufactured electric vehicles. On the corporate scene, China Vanke attracted attention by seeking to extend the grace period for a CNY 2 billion bond repayment to 90 trading days. Initially, the index soared to a two-month peak but later gains were trimmed as investors took profits and mainland stock prices declined ahead of crucial Chinese economic data to be released later this week. Concurrently, U.S. futures dipped due to concerns regarding Federal Reserve independence amidst a Justice Department investigation into Chair Powell, just before the release of the CPI figures and the onset of the earnings season. In stock movements, GigaDevice Semiconductor saw a remarkable 40% surge during its Hong Kong debut, and Dongfeng Motor rose by 6.4% following privatization announcements. Other notable performers included Wuxi Biologics up by 5.6%, Zijin Gold International increasing by 4.8%, China Taiping Insurance climbing 4.6%, and Henderson Land gaining 2.9%.