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Nikkei Markets

Hong Kong shares rise as US-China trade tensions thaw

WH Group and Apple suppliers lead midday gains on Hang Seng Index

HONG KONG (Nikkei Markets) -- Hong Kong shares rose on Monday, as a decision by the U.S. and China to hold off on imposing import tariffs on each other eased concerns of an imminent trade war.

The Hang Seng Index was up 1.3% to 31,439.88 by the noon lunch break. Apple suppliers AAC Technologies Holdings and Sunny Optical Technology Group rose 7.1% and 3.5%, respectively, while China Merchants Port Holdings added 4.3%. Index heavyweights AIA Group, China Construction Bank (CCB) and Tencent Holdings rose 2.4%, 1.6% and 1.2%, respectively, contributing most to gains on the index by points. Pork producer WH Group, which owns U.S.-based Smithfield Foods, jumped 7.1%. The stock had shed 13% from early March through Friday amid concerns that China's proposed tariffs on U.S. imports would hurt Smithfield.

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