Hong Kong stock market closed higher on Wednesday. The Hang Seng Index rose by 0.84%, the Hang Seng China Enterprises Index increased by 1.12%, the Hang Seng Tech Index climbed by 1.09%.

U.S. Commerce Secretary Howard Lutnick said on Wednesday that a trade framework and implementation plan agreed with China in London should result in restrictions on rare earths and magents being resolved.

In terms of star stocks, China Rareearth up 18%. Shares have gained 114% this week.

Bilibili up 10% as Zhejiang has introduced measures to boost game exports by supporting companies’ global expansion, platform partnerships, and international branding efforts.

Pop Mart stock, the Labubu maker, soared more than 4% to new high in Hong Kong on Labubu blind box boom. A human-sized Labubu doll fetched a whopping 1.08 million yuan ($150,000) at an auction in Beijing, in a testament to the popularity of the collectible toy flaunted by celebrities.

NIO, BYD up around 4%; CATL, Ping An up nearly 3%; Alibaba, Xiaomi up over 1%.