FX.co ★ Hang Seng Soars 2.3% at Finish

The Hang Seng Index advanced by 532 points, equating to a 2.3% rise, closing at 23,641 on Wednesday as it rebounded from the prior day’s sharp decline. This rise came after U.S. consumer inflation figures proved softer than anticipated, alleviating concerns about the inflationary pressures linked to U.S. tariff policies. The gains were widespread across sectors, with consumer and financial stocks leading the rally. The technology sector experienced notable growth, driven by news that Nvidia and AMD are set to supply semiconductors for Saudi Arabia’s Humain data center project. Additionally, reports indicate that the U.S. is considering a deal to permit the UAE to import over one million advanced Nvidia chips.

Investors shifted their attention to the earnings reports from leading Chinese technology firms. Tencent is expected to report later today, followed by Alibaba on Thursday, which could offer valuable insights into how these companies are handling trade uncertainties. Meituan gained 1.2% following its expansion into Brazil with the launch of its Keeta app, while JD.com soared 3.6% on the back of robust earnings results. Other significant gainers included Smoore International, which increased by 9.7%, Zhejiang Leapmotor by 6.0%, Orient Overseas by 4.8%, and Wuxi Biologics by 2.8%.