Investors continue to closely watch high-level talks between U.S. and Chinese trade negotiators in Washington, with little more than a week left before a U.S.-imposed deadline for an agreement expires, triggering higher tariffs.
U.S. and Chinese negotiators have started to iron out specific details of a possible trade deal. The report said agreements in principle are being drawn up in six key areas: forced technology transfers and cyber theft, intellectual-property rights, services, currency, agriculture and nontariff barriers to trade. Negotiators have continued talks in Washington this week, following a round of discussions last week in Beijing. President Donald Trump earlier said that a March 1 deadline isn't a magical date, which investors took as a sign that tariffs on imports of Chinese goods may not automatically rise next month if progress continues toward a deal.
Blue chips were mostly firmer. HSBC (00005) edged down 0.8% to HK$64.4. HKEX (00388) added 1.1% to HK$266.8. Tencent (00700) edged up 0.2% to HK$344. China Mobile (00941) put on 2.3% to HK$85. AIA (01299) gained 1% to HK$76.55.
AAC Technologies (02018) soared 11.9% to HK$59.6 becoming the top blue-chip winner after the US president Donald Trump sent a tweet saying that he "wants the US to win through competition, not by blocking out currently more advanced technologies", which analysts interpreted as softening his stance on Huawei. Want Want China (00151) bucked the uptrend, falling 1% to HK$6.63 and became the worst blue-chip loser.
5G-themed stocks continued to attract strong buying orders. Nanjing Panda Electronics (00553) surged 10.5% to HK$3.69. ZTE (00763) shot up 12.8% to HK$23.35. Sunny Optical Technology (02382) jumped 4.8% to HK$98.85. BYD Electronic (00285) elevated 11% to HK$11.88.
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