Hong Kong stocks rose 40 points or 0.2% to 25,565 in early trade on Wednesday, trying to recover from steep losses in the prior day amid strength in tech and consumer shares. Sentiment was supported by a modest uptick in U.S. futures ahead of Nvidia’s earnings later today and the release of the PCE index Friday. In China, industrial profits fell 1.5% yoy in July, easing from a 4.3% drop in June amid Beijing’s support measures, though cumulative losses for the first seven months of 2025 stood at 1.7% from a year earlier. Gains were capped by concerns over U.S. monetary policy after President Trump ordered the unprecedented firing of Fed Governor Lisa Cook, a move expected to trigger a legal challenge. On the trade front, Hong Kong’s exports rose 14.3% yoy in July, but a sharper 16.5% increase in imports widened the trade deficit. Notable movers included Nongfu Spring (7.0%), SMIC (4.1%), Prada Spa (3.9%), Horizon Robotics (2.5%), and China Hongqiao Group (2.3%).