EV, tech shares lift HK stocks to one-month high as trade concerns ease

HONG KONG, May 2 (Reuters) - Hong Kong stocks climbed to nearly a one-month high on Friday as signs of easing Sino-U.S. trade tensions comforted investors, while electronic vehicle (EV) makers rallied on strong sales.

Hong Kong's benchmark Hang Seng Index .HSI added 1.7% to end at 22,504.68, the highest close since April 3.

The gain followed the 4.3% decline in April, the worst month for the benchmark since November 2024 as U.S. President Donald Trump's "reciprocal tariff" triggered a global markets rout.

The Hang Seng China Enterprises Index .HSCE ended 1.9% higher at 8,231.04, a one-month closing high.

The mainland markets are closed till next Tuesday for the Golden Week holiday.

China's Commerce Ministry said Beijing is "evaluating" an offer from Washington for talks over Trump's crippling tariffs, signalling a potential de-escalation in the trade war that has roiled global markets.

Investors have taken comfort from signs of potential de-escalation between the U.S. and China and the start of trade talks with Japan and others, analyst at Citi said in a note.

EV makers are among the top performers in Hong Kong, driven by the strong April delivery figures.

Xpeng 9868.HK surged 6.7% to a one-week high after reporting a 273% year-on-year surge in smart EV deliveries last month. Peer Li Auto 2015.HK climbed 3.6% and BYD 1211.HK gained 3.3%, supported by sales increases.

Tech stocks advanced, with the Hang Seng Tech Index .HSTECH adding 3.1%. Alibaba 9988.HK strengthened more than 3.8% and Tencent 0700.HK added 2.2%. Both stocks hovered near their one-month highs.

The Chinese yuan CNH=D3 strengthened in offshore trading to as much as 7.2400, its strongest level in a month.