HK Stock Market Move | Joint statement released on Geneva trade talks between China, US, and Japan. Hang Seng Index rose nearly 3.5% at the close. Hang Seng Technology Index surged 6%.

The Hang Seng Index and the Hang Seng Tech Index surged at the close. As of the time of writing, the Hang Seng Index rose by 3.24% to 23609.48 points, with a trading volume exceeding 240 billion Hong Kong dollars; the Hang Seng Tech Index rose by 5.29% to 5454.38 points. In terms of news, according to Xinhua News Agency, a joint statement was issued at the China-US Geneva Economic and Trade Talks. The US retains the remaining 10% tariffs, cancels or suspends other additional tariffs; China will correspondingly adjust the ad valorem tariffs imposed on American goods; both sides will establish a mechanism to continue negotiations on economic and trade relations. It is reported that from May 10th to 11th, China and the US held high-level economic and trade talks in Geneva, Switzerland. The Chinese delegation stated at a press conference that they had in-depth exchanges on economic and trade issues of mutual concern. The atmosphere of the talks was frank, in-depth, constructive, and made substantial progress, reaching important consensus. Both sides agreed to establish a China-US economic and trade negotiation mechanism, designate leaders from both sides, and further negotiate on economic and trade issues of mutual concern. China and the US will finalize the relevant details as soon as possible and will issue a joint statement on the talks reached on May 12th.