Hang Seng up 0.97% at 18,112 points (Il Sole 24 Ore Radiocor) - Hong Kong , 13 Jun - Hong Kong shares ended higher, rebounding from yesterday's sharp drop amid strong Asian markets.

The Hang Seng index clawed back the 18,000 mark, after slipping yesterday below the key threshold for the first time in two months.

In the city's stock market dealings electric vehicle stocks rallied despite the European Union yesterday slapping tariffs of up of 38% on Chinese EV makers.

According to some analysts, the move is modest compared with the stiff 100% tariffs on Chinese EV imports into the US, which were hiked from 25% last month.

BYD jumped 4.15%, Nio soared 1.31% and Li Auto rallied1.99%.

Technology shares also were among the biggest advancers as they tracked an overnight rally on Wall Street amid a continued artificial intelligence-fueled rally, with Apple soaring after it announced plans to incorporate AI into its flagship devices.

The Hang Seng Tech Index rose 1.30%.

A soft US consumer price inflation reading also helped support sentiment, but gains were capped by a hawkish Federal Reserve.

The US central bank yesterday slashed its outlook for interest rate cuts, warning that it expects only one rate cut this year, down from previous forecasts of three.

The Hang Seng index closed up 0.97% at 18,112 points.

AAA-Ver

(RADIOCOR) 13-06-24 12:23:50 (0288) 5 NNNN