The Hang Seng index pared some of its earlier gains on Wednesday after a sharp decline in the previous session. Global funds returned to Indian assets last week the first time in 2025.
Chinese technology stocks fell from a three-year high to the brink of a correction in just five sessions, fuelled by a lack of positive surprise in earnings and Xiaomi's jumbo share sale.
Investors has surged into the sector since January, but the rally is fizzling out. While outlook improved among the nation's tech giants, it had been fully baked in.
According to some local money managers, any pullback in equities from Trump's upcoming tariffs would be a buying opportunity as business-friendly policy pivot are seen as game changers.
The world's second largest economy could be more immune to higher tariffs than in 2018 when corporate debt was soaring. It is less reliant on exports to the US and pivots to boost consumption.
There is a plenty of buyers to put a floor under a potential stock rout, including sovereign wealth fund, mutual funds and insurance firms, amid signs of a turnaround in the disappointing market.
The Hang Seng index has shown the head and shoulder top pattern, so it is expected to weaken for a while. But the uptrend likely remains intact unless the support around 23,170 is broken.
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