(Bloomberg) -- Hong Kong’s world-beating stock rally is showing no signs of letting up, with the city’s currency peg to the greenback burnishing its haven appeal amid the threat of higher-for-longer US interest rates.Most Read from BloombergUS and Saudis Near Defense Pact Meant to Reshape Middle EastJerome Powell Offered Markets a Reprieve. It Vanished in a BlinkTesla Axes Supercharger Team in Blow to Broader EV MarketNYPD Arrests Over 300 Protesters in Crackdown on College CampusesThe Ozempic E
Chinese stocks notched a mixed performance on Tuesday after economic data releases that did little to inspire confidence in a sustained recovery in the world’s second-largest economy. Hong Kong’s Hang Seng Index gained less than 0.1% with the Shanghai Composite down 0.3%. Chinese economic data out Tuesday in the form of April purchasing-managers indexes (PMIs) were a mixed bag.
Hong Kong’s benchmark Hang Seng Index has surged more than 7% in April as the best-performing major index in the world. It’s now heading into a bull market, rebounding nearly 20% from its January low.