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"Candid" Biden-Jiping call refreshes Hong Kong ETFs
U.S. President Joe Biden and his Chinese counterpart Xi Jinping spoke on the phone, discussing how the world's two largest powerhouses can compete peacefully.
By Rony Abboud
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- Hong Kong
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For the first time in February, U.S. President Joe Biden and his Chinese counterpart Xi Jinping spoke on the phone, discussing how the world's two largest powerhouses can compete peacefully, without "veering into conflict". The call boosted sentiment in the Hong Kong market.
The Hang Seng, Hong Kong's Main Index, rose 1.9% on Friday after falling by 2.30% the day prior. Gains were led by Haidilao International Holdings (+7.42%), Alibaba Health Information Technology (+4.74%) and E-commerce giant Meituan (+4.34%).
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Hong Kong ETFs rose in tandem with the market. Two of the largest, the Tracker Fund of Hong Kong (TF5) and Hang Seng Index ETF closed higher by 1.90% and 2.05% respectively. With a pure focus on Hong Kong Tech, the CSOP Hang Seng TECH Index ETF gained +2.69%.
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