Hong Kong's stock market ended higher on Monday with the benchmark Hang Seng Index up 0.91 percent to close at 23,905.56 on a mixed day for equity markets.
The Hang Seng China Enterprises Index climbed 1.24 percent to end at 8,850.69, and the Hang Seng Tech Index rose 1.72 percent to end at 5,736.83.
Equity markets were mixed as worries about fresh US tariffs pencilled in for next week were tempered by a report that Donald Trump was considering a more targeted approach.
Investor sentiment has been jolted in recent weeks by fears that Trump's hardball policies could deal a painful blow to the global economy.
He has caused ructions on trading floors since resuming power in January by hitting out at long-standing allies and imposing or threatening swingeing tariffs on imports of an array of goods, including steel and cars.
Next Wednesday is now the focus of attention, with Trump labelling it "Liberation Day" as he prepares to unveil a raft of reciprocal measures to counter those in other countries.
"Anticipation and pre-positioning ahead of Trump's 'Liberation Day' on April 2 and the impending deluge of tariff-related announcements that will follow in the days/weeks after will be a growing factor that drives price action, sentiment and liquidity in markets this week," said Chris Weston at Pepperstone.
"As the sky begins to bruise and darken, and the atmospheric pressure builds within the capital markets, market players question if it's time to batten down the hatches in preparation for a storm of uncertainty set to be unleashed on markets."
The Federal Reserve last week warned that "uncertainty around the economic outlook has increased" while the central banks of Japan and Britain also warned about the impact of the White House's policies.
Premier Li Qiang said at the weekend that Beijing was readying for "shocks that exceed expectations" ahead of the latest measures, adding that "instability and uncertainty are on the upswing."
His comments came as he met heads of some of the world's biggest companies, including Apple, Qualcomm, FedEx and Pfizer.
However, there was some hope among investors amid reports the US administration was considering a more targeted approach to the tariffs, with some countries being hit harder than others, and the measures not being as severe as initially feared.
That came after the president said on Friday that "there'll be flexibility" in his plans.
Asian markets fluctuated through the day, with Tokyo falling along with Seoul, Taipei, Manila and Bangkok.
Shanghai, Sydney, Singapore, Mumbai and Wellington joined Hong Kong in edging up.
London, Paris and Frankfurt opened on the front foot.
Gold held around US$3,025, having hit a series of records last week to a peak of more than $3,057 owing to a surge in demand for safe havens. (AFP/Reuters)
HK ends up on mixed day for equities
2025-03-24 HKT 17:14
