Hong Kong stocks log sixth straight weekly gain on listing momentum

Reuters
05/23
Hong Kong stocks log sixth straight weekly gain on listing momentum

Updates to market close

SHANGHAI, May 23 (Reuters) - Hong Kong stocks closed roughly flat on Friday, logging a sixth straight weekly gain, underpinned by renewed listing momentum and signs of easing Sino-U.S. trade tensions. China stocks fell on the day.

** China's blue-chip CSI300 Index .CSI300 ended 0.8% lower, while the Shanghai Composite Index .SSEC lost 0.9%. Hong Kong benchmark Hang Seng .HSI was up 0.2%.

** For the week, the Hang Seng Index was up 1.1%, while the CSI300 index lost 0.2%.

** Hong Kong's listing market showed signs of revival in 2025, buoyed by the strong debut of battery giant CATL 3750.HK, which raised $4.6 billion in the world's largest listing so far this year.

** Shares of pharma giant Jiangsu Hengrui 1276.HK soared 25% in their Hong Kong debut on Friday. The CSI Healthcare Index .CSIHC edged up 0.3%,bucking a broader market decline as most other sectors ended in losses.

** BYD shares 1211.HK jumped as much as 4.6% after reports showed the Chinese automaker sold more electric vehicles in Europe than Tesla TSLA.O. Auto shares .CSI931008 tracked gains and were up 1.7%. Li Auto's 2015.HK shares rose 1.1%.

** Weakness in China's property sector is expected to persist this year with home prices falling nearly 5% and set to remain stagnant in 2026, a Reuters poll showed.

** China has lowered the ceiling of deposit rates, Reuters reported on Friday, as authorities seek to protect banks' profit margins and discourage savings. The CSI Bank Index .CSI399986 finished 1% lower.

** Xiaomi 1810.HK said it will start selling its YU7 electric vehicle in July. Its shares were roughly flat after the news.

(Reporting by Shanghai Newsroom; Editing by Mrigank Dhaniwala and Sonia Cheema)

((li.gu@tr.com))

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