Hong Kong Stocks Slide as Trump-Xi Talks Leave Investors Unimpressed; CARsgen Therapeutics Falls

MT Newswires Live05-15

Hong Kong stocks tumbled Friday after U.S. President Donald Trump departed China, with investors left underwhelmed by the outcome of his talks with Chinese President Xi Jinping in Beijing.

The Hang Seng Index fell 1.6%, or 426.31 points, to close at 25,962.73, while the Hang Seng China Enterprises Index dropped 1.9%, or 167.60 points, to finish at 8,691.03.

A brief U.S. summary of Thursday's talks highlighted what the White House described as a mutual commitment to reopening the Strait of Hormuz amid the conflict involving Iran.

There were no signs of progress on potential sales of Nvidia's advanced H200 artificial intelligence chips to China.

Trump also told Fox News that Beijing intends to purchase 200 Boeing aircraft, marking its first order for U.S.-made commercial jets in nearly a decade.

Reuters reported, however, that the deal fell short of market expectations for about 500 planes.

In corporate news, CARsgen Therapeutics (HKG:2171) closed over 10% lower after launching a top-up placement expected to raise about HK$462 million in net proceeds.

VPower Group (HKG:1608) fell 17% after its proposed offshore debt restructuring lapsed after failing to become effective by the longstop date.

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