Hong Kong stocks rose 0.75 percent Wednesday following another record close for the Dow on Wall Street and despite data showing China had recorded a rare trade deficit in March. The benchmark Hang Seng Index climbed 164.22 points to end at 22,034.56 on turnover of HK$59.34 billion ($7.66 billion). China's customs agency said Wednesday exports climbed a below forecast 10.0 percent last month, and imports jumped a bigger-than-expected 14.1 percent, while the country saw a trade deficit of $880 million. Economists had tipped a surplus of $14.7 billion.

Hong Kong stocks fell 8.85 points, or 0.04 percent, to close at 21,718.05 on Monday. The benchmark Hang Seng Index traded between 21,772.23 and 21, 612.05. Turnover totaled 58.05 billion HK dollars (7.48 billion U.S. dollars). The Hang Seng China Enterprises Index rose 0.45 points to close at 10,429.76. Half of the four sub-indices lost ground.

Global banking giant HSBC said Wednesday it would sell part of its insurance business in Singapore in a deal valued at around $19.3 million, as part of a plan to cut costs by offloading non-core assets. HSBC said its insurance unit in the city-state has agreed to sell the group term life insurance and group medical portfolios to AXA Life Insurance Singapore, the country's number two general insurer by revenue according to AXA. The transaction is expected to be completed this year. The rest of the life insurance business is unaffected.

Hong Kong stocks fell 0.14 percent Wednesday giving up early gains following a strong lead from Wall Street, where US stocks surged to fresh record highs. The benchmark Hang Seng Index lost 30.33 points to end at 22,337.49 on turnover of HK$52.28 billion ($6.73 billion). Hong Kong markets will be closed Thursday for a public holiday. US stocks reached fresh highs Tuesday on solid manufacturing orders data and strong results from US automakers, with the Dow Jones Industrial Average closing at a record 14,662.01, up 89.16 or 0.61 percent.