Stocks in Hong Kong climbed 165 points or 0.7% to 23,399 in Friday morning trade, snapping a three-day losing streak amid broad-based sector gains. The market rebounded from a three-week low after China’s central bank held its key lending rates steady, as expected, following record cuts in May aimed at boosting the economy and offsetting the impact of rising U.S. tariffs. Sentiment was further lifted by hopes that China’s top legislature could recommend fresh stimulus measures during its early July session. For the week, however, the Hang Seng is on track for its first fall in three periods, down around 2% so far, pressured by concerns over possible U.S. involvement in the Israel-Iran conflict. Meanwhile, the Fed reiterated that inflation risks remain “meaningful,” suggesting a more cautious path for rate cuts in 2026, though still leaving room for two more cuts this year. Early gainers included Sunny Optical Tech (3.7%), Laopu Old (2.5%), Chow Tai Fook (1.8%), and SMIC (1.7%).