January 24, 2025 at 03:53 am EST
(MT Newswires) -- Hong Kong stocks capped off the week with gains, tracking a Wall Street rally that was triggered by US President Donald Trump's demand for more rate cuts and his optimism about US-China relations.
The Hang Seng Index rose 1.86%, or 365.63 points, to close at 20,066.19 on Friday. The Hang Seng China Enterprises Index rose 2.06%, or 147.94 points, to end at 7,312.16.
In his recent address, Trump emphasized the importance of fair trade practices with China, suggesting a potential willingness to cooperate with the country. He also highlighted the possibility of working with China to address the issue of fentanyl imports into the US.
However, these optimistic remarks were tempered by the ongoing trade tensions between the two nations. US legislators have introduced a bill seeking to remove China's preferential trade status and impose higher tariffs, raising concerns about potential disruptions to global trade.
In corporate news, Kindstar Globalgene Technologyacquired a 49% equity interest in AnchorDx Inc. from AnchorDx Group HK, while a subsidiary of the company, also acquired a 100% equity interest in Guangzhou Kangcheng Weiye Biotechnology from AnchorDx Group HK. Shares of the company finished nearly 3%.
Shareholders of Solartech Internationalwill meet on Feb. 17 to vote on the proposed disposal of Dongguan Hua Yi Brass Products by unit Modern China Enterprises. The company's shares closed nearly 2% higher on Friday.
First Service Holding will hold a shareholder vote on Feb. 20 on the proposed subscription of certain wealth management products from the Bank of China and China Guangfa Bank. Shares of the company however closed nearly 2% lower on Friday.

Sumber : MT Newswires