China and Hong Kong stocks hit one-month highs today as expectations for a China-US trade deal outweighed worries from a downbeat China service activity survey.
Technology shares led the gains as investors returning from holiday breaks were inspired by bullish Asian currencies that suggested a shift away from dollar assets.
Both China’s blue-chip CSI300 index and the Shanghai Composite Index climbed more than 1% in their best day in almost a month.
Hong Kong’s benchmark Hang Seng gained 0.7% to a one-month high.
A private sector survey showed today that China’s services activity expanded at the slowest pace in seven months in April amid uncertainty caused by higher US tariffs.
However, investors chose to focus on a possible de-escalation in trade tensions after President Donald Trump said on Sunday that the US was meeting…
