Hong Kong stocks climb on Nvidia rally amid Asia\’s mixed day
Tech Surge: Nvidia Resumes China Chip Exports
Nvidia announced it will restart sales of its H20 AI semiconductors to China, lifting the downtick in US markets and propelling Hong Kong tech giants to a one‑percent rally.
Global Market Snapshot
- Hong Kong – Hang Seng up 1.0 % at 24,829.23, driven by Alibaba, JD.com and Tencent.
- Tokyo – Nikkei slight decline 0.1 % to 39,642.40.
- Shanghai – Composite 0.1 % down to 3,501.04.
- New York – Dow fell 1.0 % to 44,023.29.
- London – FTSE 100 slipped 0.7 % to 8,938.32.
Policy and Trade Tensions
President Donald Trump pledged to lift WWII export licensing curbs, allowing Nvidia to ship chips “very soon”. Meanwhile he signaled the possibility of new tariffs on semiconductors and pharmaceuticals from August 1, raising concerns about a potential budget deficit surge.
Inflation and Fed Outlook
US inflation jumped to 2.7 % last month, above forecast, sharpening expectations that the Federal Reserve may hold rates higher longer. Dallas Fed president Lorie Logan noted that a combination of softer inflation and a weaker labor market could prompt rate cuts “fairly soon”.
Geopolitical Risks and Market Corrections
Global CIO Vincenzo Vedda warned of possible short‑term corrections, citing persistent tariff threats, rising long‑term interest rates, and substantial geopolitical risks that could dampen economic growth.
