China announced plans on Thursday to channel hundreds of billions of yuan of investment from state-owned insurers into shares as part of the government's latest efforts to support a struggling stock market.

Asian equities were higher, except for Hong Kong and Mainland China, which were off following President Trump’s 10% tariff threat, which prompted profit-taking after six days of gains.

US President Donald Trump had threatened 60% tariffs on Chinese goods on his campaign trail.

HONG KONG -- The historic legislation for Basic Law Article 23, aimed at safeguarding national security and ensuring Hong Kong's stability and development, has topped a list of the ten most significant policies by the Hong Kong Special Administrative Region (HKSAR) government in 2024.

The Chinese government is trying to encourage people to spend more by ensuring that share prices will rise, ordering pensions and mutual funds to invest more in domestic stocks to help jolt its languid markets out of the doldrums.

The Company makes available through the Investor Relations section of its internet website at http://ir.yumchina.com its filings with the HKEX as soon as reasonably practicable after electronically filing such materials with the HKEX. These filings may also be obtained by visiting the HKEX's website at http://www.hkex.com.hk.

The Hong Kong stock market has finished higher in six straight sessions, rallying more than 1,230 points or 6 percent in that span.

Zijin Mining Group racked up record annual profit after a growth burst that made the Chinese firm as big as global commodities giant Glencore, although it has softened its output targets for this year.

U.S.-based Prolium Biosciences has now agreed to pay InnoCare and Keymed $17.5 million in upfront and near-term payments to develop and commercialize ICP-B02 as a cancer drug outside of China. Prolium also has the right to develop ICP-B02 in non-cancer indications globally, according to a filling with the Hong Kong Stock Exchange (PDF).

The billionaire behind Tesla has significant business interests in China and has previously described himself as “kind of pro-China”. He could be at odds with a number of China hawks in the second Trump administration, and may even be labelled a national security risk due to his connections to the second-largest economy in the world.

Bursa Malaysia was unable to sustain a rally despite a braoder regional lift in sentiment as China revealed new measures to prop up its stock market.