Hong Kong Stocks End Higher on US-China Trade Pact; Mininglamp Surges 107% in Debut

MT Newswires Live

11/03

Hong Kong stocks closed higher Monday after U.S. President Donald Trump and Chinese President Xi Jinping agreed to a trade pact.

The Hang Seng Index increased by 251.71 points, or 1%, to finish at 26,158.36. The Hang Seng China Enterprises Index added 90.15 points, or 1%, to end at 9,258.73.

China agreed to suspend the implementation of its rare-earth export curbs as part of a deal reached between Trump and Xi at a meeting held in South Korea last week.

Beijing also agreed to suspend the retaliatory tariffs it announced in March in exchange for the U.S. reducing tariffs on certain Chinese imports.

In corporate news, Mininglamp Technology (HKG:2718) made a stellar debut in Hong Kong.

The Chinese data intelligence software firm closed at HK$291.20 per share, up nearly 107% from its offer price of HK$141.

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