14.07.202502:29:44UTC+00Hong Kong Shares Inch Higher

In early Monday trading, Hong Kong stocks advanced by 48 points, or 0.2%, reaching 24,190. This marks the third consecutive session of gains, buoyed by Goldman Sachs upgrading Hong Kong equities to a market weight rating. The upgrade was driven by expectations of stronger earnings growth, enhanced capital markets, and increased activity in the property sector. Additionally, optimism was fueled by the anticipation of a Beijing-led policy response to ongoing deflation concerns. Nonetheless, the market's ascent was tempered by investor caution ahead of the release of June trade data later in the day. Previously, May data revealed a sharp slowdown in China's exports and a steeper-than-expected decline in imports, underscoring the detrimental effects of heightened U.S. tariffs and weak domestic demand. Market participants also looked ahead to significant Chinese economic indicators expected later in the week, including industrial production, retail sales, new yuan loans, and second-quarter GDP figures. Meanwhile, in the U.S., futures declined following President Trump's announcement of a potential 30% tariff on imports from the EU and Mexico, effective August 1. Notable early performers included Nio Inc., rising 9.9%, Geely Auto, up 2.4%, and Kuaishou Tech, increasing by 2.1%.