The Hang Seng Index was 30.62 points, or 0.14 percent, up in opening trades at 22,038.73.
Regional stocks started the day limply as investors struggled to match Wall Street’s rally, with data showing Chinese factory activity contracted this month at its fastest pace for nearly two years as Donald Trump’s trade war kicked in.
While markets have recovered some of the losses suffered after the US president’s “Liberation Day” tariffs announcement on April 2, uncertainty still rules as countries look to cut deals to avert the worst of Washington’s ire.
China has pointedly not flown to the United States in a bid to pare back the levies of up to 145 percent imposed on its goods, instead hitting back with 125 percent tolls of its own.
But the effect of the measures began to shine through in April, with data on Wednesday showing manufacturing activity contracted at its fastest pace since July 2023 – a month after expanding at its quickest rate for 12 months.
That came after Chinese exports soared more than 12 percent last month as businesses rushed to get ahead of the swingeing tariffs.
Tokyo rose thanks to a surge in Sony fuelled by a report that it is considering spinning off its chip unit, raising expectations that such a move would unlock value in the Japanese entertainment and electronics company. (AFP/Xinhua)
