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Asian stocks end mixed: Hang Seng jumps 0.7%, Nifty slips 81 points

by admin May 6, 2025
May 6, 2025
Asian stocks end mixed: Hang Seng jumps 0.7%, Nifty slips 81 points

Asian stocks ended mixed on Tuesday in thin trading, with several major markets closed for holidays and participants awaiting clarity on trade negotiations and domestic stimulus measures.

Markets in Japan and South Korea were shut for public holidays, leading to reduced regional trading volumes.

Hong Kong, China stocks advance on trade hopes

Hong Kong equities closed higher, supported by renewed optimism around US-China trade relations.

The Hang Seng Index rose 0.7 percent, or 158.03 points, to 22,662.71, while the Hang Seng China Enterprises Index added 0.37 percent to end at 8,261.61.

The move came after US Treasury Secretary Scott Bessent told CBS News that there could be “substantial progress” in trade talks with China in the coming weeks.

US President Donald Trump also said he would reduce tariffs on China “at some point” if a fair deal is achieved.

China’s Shanghai Composite Index gained 1.13 percent to close at 3,316.11 as traders returned after the Labour Day break.

The gains came despite a private survey showing services activity slowed in April to a seven-month low, which added to concerns over the domestic economy.

The weaker data, however, reinforced speculation that Beijing may consider additional policy support to sustain growth.

Other regional markets

In Australia, the S&P/ASX 200 ended marginally lower at 8,151.40, down for a second straight session.

Indian equity benchmarks ended Monday’s session in the red, dragged down by losses in Adani group stocks and select financials.

The Nifty 50 fell below the 24,400 mark, while the Sensex also eased, snapping recent gains.

The Sensex closed 155.77 points, or 0.19 percent, lower at 80,641.07, and the Nifty ended down 81.55 points, or 0.33 percent, at 24,379.60.

Adani Enterprises, Eicher Motors, Jio Financial Services, Trent, and SBI Life were among the top laggards on the Nifty.

On the flip side, Hero MotoCorp, Tata Steel, Bharti Airtel, Mahindra & Mahindra, and Hindustan Unilever provided some support to the index.

Wall Street on Monday

Overnight, US markets saw a pullback after recent gains.

The Nasdaq fell 133.49 points, or 0.7 percent, to 17,844.24, the S&P 500 dropped 36.29 points, or 0.6 percent, to 5,650.38, and the Dow lost 98.60 points, or 0.2 percent, to 41,218.83.

While the major averages recovered from early losses, renewed trade-related concerns weighed on sentiment.

Trump said he would impose a 100 percent tariff on foreign-produced movies and confirmed he had no plans to speak with Chinese President Xi Jinping this week, dampening hopes for near-term diplomatic engagement.

The market had rallied sharply in previous sessions, with the S&P 500 closing higher for nine consecutive sessions last week — its longest winning streak in over 20 years.

The post Asian stocks end mixed: Hang Seng jumps 0.7%, Nifty slips 81 points appeared first on Invezz

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