Hong Kong stocks capped off the week in green ahead of the upcoming trade talks between the two largest economies in the world.
The Hang Seng Index jumped 0.4%, or 91.82 points, to end at 22,867.74. The Hang Seng China Enterprises Index rose fractionally to 8,308.83.
Investors are hopeful as Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent are set to meet in Switzerland over the weekend to discuss tariffs.
The US may potentially lower duties on China to below 60% if the reduction is reciprocated, Bloomberg reported, citing people familiar with the matter.
US President Donald Trump also reiterated his confidence in a positive outcome from the trade negotiations on Thursday, the South China Morning Post (SCMP) reported. The reassurance came as Trump signed a trade deal with the UK to limit tariffs on the latter.
In corporate news, Semiconductor Manufacturing International or SMIC's (HKG:0981, SHA:688981) Hong Kong-listed stocks fell nearly 5% despite a 162% boost in first quarter attributable profit to $188 million.
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