Hong Kong stocks power up on Nvidia resuming chip sales to China


Hong Kong stocks rose for a fifth straight day on Wednesday amid signs of easing US-China tensions after Nvidia said it would resume sales of some chips to China.

The Hang Seng Index advanced 0.3 per cent to 24,658.55 at the noon trading break, after jumping as much as 1.1 per cent earlier. The Hang Seng Tech Index rose 0.6 per cent. On the mainland, the Shanghai Composite Index fell 0.1 per cent and the CSI 300 Index was down 0.2 per cent.

Online travel booking agency Trip.com rose 2.6 per cent to HK$503, while search-engine leader Baidu surged 1.7 per cent to HK$89.15. E-commerce giant Alibaba Group Holding added 1.7 per cent to HK$115.40.

Car dealer Zhongsheng Group Holdings fell 2 per cent to HK$11.74 and food-delivery service provider Meituan which declined 0.3 per cent to HK$125.80. Chinese property developer China Overseas Land & Investment lost 0.9 per cent to HK$13.50 and peer Longfor Group slipped 1 per cent to HK$10.08.

Nvidia CEO Jensen Huang delivers a speech during the opening ceremony of the International Supply Chain Expo in Beijing on Wednesday. Photo: AP
Nvidia CEO Jensen Huang delivers a speech during the opening ceremony of the International Supply Chain Expo in Beijing on Wednesday. Photo: AP

Nvidia CEO Jensen Huang was the guest of honour at the International Supply Chain Expo in Beijing on Wednesday. This was Huang’s third visit to China this year.

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