Hong Kong Stocks Rise Ahead of Trump-Xi Meting; SF Intra-city Jumps 11%
Hong Kong stocks rose Friday on hopes that U.S.-China trade tensions will ease after Chinese President Xi Jinping's meeting with presidents Donald Trump next week.The Hang Seng Index rose 146.49 points, or 0.6%, to close at 24,750.78, while the Hang Seng China Enterprises Index gained 50.04 points, or also 0.6%, to 8,225.40.Investors also looked ahead to the second meeting between Trump and Xi this year, scheduled to take place in Washington.Lower oil prices also supported sentiment. Oil prices fell about 2% for a third straight session, easing concerns over inflation and high borrowing costs despite renewed cross-border strikes involving Saudi Arabia and Iran-backed Houthis.In corporate developments, Hangzhou SF Intra-city Industrial (HKG:9699) jumped more than 11% after controlling shareholder Celestial Ocean Investments increased its stake in the company through additional share purchases.Dynam Japan (HKG:6889) rose nearly 2% after selling an Airbus A321-271NX aircraft to a company owned by controlling shareholder Yoji Sato for $65.2 million.
