Hong Kong stocks closed higher Friday, lifted by personal computer shares.
The benchmark Hang Seng Index up 0.70 percent to close at 25,182.39 points. The Hang Seng China Enterprises Index ticked up 0.73 percent to end at 8,425.82 points, while the Hang Seng Tech Index dipped 0.09 percent to 4,884.23 points.
Timothy Pope, a market analyst with China Global Television Network (CGTN), recapped the session’s performance.
"The reports of a deal being reached by US and Iranian negotiators did give the markets around the region more of a lift today - although US Vice President JD Vance and Iranian state media both seemed to pour a little bit of cold water on the idea that an agreement has been achieved," said Pope.
"Nevertheless, the Hang Seng rose 0.7 percent. The index was supported also by a huge jump for PC maker Lenovo, it was up 22 percent. The stock pulled off the same trick last Friday, actually, on quarterly revenue results. And this week it was in response to an even bigger surge for Dell after its US rival released some very bullish profit forecasts with big gains predicted to be driven by demand for AI data centers. Now both companies seem to be really weathering a shortage of memory chips, which are essential for PCs and for AI computing much better than some of their rivals. And that's really reflected in their shares, which are vastly outperforming other PC makers like HP," he said.
Hong Kong's stock market was also influenced by new energy vehicle shares, which closed mixed Friday.
"Also in the spotlight in Hong Kong today were Chinese EV makers. They were trading lower. Li Auto missed first quarter revenue forecasts and Xpeng's predicted second quarter revenue was disappointing investors. BYD actually made some gains following an announcement yesterday of new service packages which are supposed to incentivize drivers to use BYD's assisted driving system, which has the unimprovable name of God's Eye. BYD closed 1.1 percent higher, Li Auto was down 4.3 and Xpeng shed 3.8 percent," said the analyst.
Personal computer shares lift Hong Kong's Hang Seng Index: analyst
Colombians are heading to the polls on Sunday to elect their next president. The country's constitution prevents the current President, Gustavo Petro, from running for a second term.
Yet, many see this election as a referendum on the policies of Gustavo Petro, Colombia's first leftist president.
There are 14 candidates on Sunday's ballot, but the polls show it will likely be a tight three-way race.
The frontrunner is Ivan Cepeda, a 63-year-old three-term senator, representing President Gustavo Petro's party, the Historic Pact coalition. Cepeda has vowed to defend and deepen Petro's progressive reforms and social justice policies to reduce inequality. He also promises to continue the government's controversial "Total Peace" strategy to negotiate the disarmament of remaining guerrilla groups and criminal gangs.
"True prosperity comes from equality, from access to rights, and from transforming the peripheral and excluded territories of the rural world," Cepeda said at a campaign rally.
Running as a political outsider and independent is Abelardo de la Espriella, a 47-year-old lawyer, nicknamed "The Tiger." He has presented himself as the "authority and order" candidate who will reduce state spending by up to 40 percent in the next four years.
"(First,) we must fight insecurity. Colombia is suffering today from a pandemic of insecurity. Crime is out of control: extortion, cattle theft, smuggling, drug trafficking," he said to his supporters at an election event.
According to polls, the third candidate with strong support is Paloma Valencia. The 48-year-old senator represents the Democratic Center party led by popular former President Alvaro Uribe Velez. Her candidacy is backed by politicians and economists who are concerned with growing levels of public debt. They want to see a return to more conservative fiscal policies.
"I don't want to be a president who governs alone, locked away in glass offices. I want to be a president who stands with citizens, who embraces them, who reaches out to them, who has a team, and who governs to transform Colombia," the candidate said at the campaign event
According to polls earlier in the year, many voters are expressing concerns about unemployment, rising living costs, corruption, and, above all, public security.
The election comes after a turbulent year that the International Committee of the Red Cross has called "the worst humanitarian consequences of armed conflict over the past decade."
"(We arrive at this election in a tense atmosphere - tense) because of the economic situation, because of the security situation, and because of the narratives that have been built around the country's main problems. On top of that, emotions, ideas and social media have all helped raise (the tone,)" said Eduardo Velosa, associate professor from International Studies Javeriana University.
If no candidate receives 50 percent of the vote, a runoff election will be held between the top two finishers on June 21st.
Colombians prepare to choose their next president
