While the U.S. president’s speech Friday was heated in rhetoric, it lacked specifics around measures that would directly impact the city. He announced the U.S. would begin the process of stripping some of Hong Kong’s privileged trade status without detailing how quickly any changes would take effect and how many exemptions would apply.
(June 1): Hong Kong stocks headed for their best day in more than two months, after President Donald Trump’s response to China for its crackdown on Hong Kong stopped short of fully escalating tensions between the two nations.
The Hang Seng Index rose as much as 3.7% Monday morning on volume that was almost three times the 30-day average for this time of day. Real estate firms, which had borne the brunt of selling in recent days, led the rally. Sun Hung Kai Properties Ltd. surged the most since September, while Swire Pacific Ltd. jumped 6%.
