Hong Kong stocks rose to nearly a two-month high on Wednesday, as JD.com reported the fastest earnings growth in three years while investors were gearing up for results from bellwethers such as Tencent Holdings and Alibaba Group Holding.
The Hang Seng Index climbed 2.3 per cent to 23,640.65 at the close. The Hang Seng Tech Index rose 2.1 per cent.
On the mainland, the CSI 300 Index added 1.2 per cent and the Shanghai Composite Index advanced 0.9 per cent.
E-commerce giant JD.com jumped 3.4 per cent to HK$141.60 after posting a 16 per cent year-on-year increase in sales in the first quarter. Tencent gained 3 per cent to HK$521 before its earnings release later on Wednesday. Alibaba, which is due to report results on Thursday, rallied 3.4 per cent to HK$130.40.
“The tariff episode is expected to have a limited impact on corporate earnings, and results from most of the sectors are expected to be stable,” said Evan Li, an analyst at…
