HK stocks open higher on tech gains
Shares in Hong Kong and on the mainland opened higher on Monday, driven by tech heavyweights. The city's benchmark Hang Seng Index rose 186 points, or 0.7 percent, to stand at 25,303 points at the open. The Hang Seng Tech Index, meanwhile, edged up 1.1 percent to open at 4,761 points. Leading the gains were shares from tech heavyweights, with those of JD.com rallying 3.5 percent and Alibaba and…
Hong Kong and mainland Chinese markets opened on a positive note on Monday, buoyed by strong performances from tech giants. The Hang Seng Index, Hong Kong's primary benchmark, climbed 186 points, or 0.7 percent, to open at 25,303 points. Meanwhile, the Hang Seng Tech Index added 1.1 percent to open at 4,761 points. Among the tech leaders, JD.com saw a notable 3.5 percent rise, while Alibaba and Tencent climbed 1.8 percent and 1.1 percent, respectively.
On the mainland, the Shanghai Composite Index ticked up 0.07 percent to 3,930 points, and the Shenzhen Component Index opened 0.3 percent higher at 14,399 points. The ChiNext Index, which tracks China's Nasdaq-style board of growth enterprises, also rose 0.2 percent to 3,632 points. These gains followed a decline on Wall Street last week as investors digested fresh data that dampened hopes for a US interest rate increase next month, yet suggested weakening growth in the world's largest economy.
Now, all eyes are on China's July activity data, which could indicate robust global demand for artificial intelligence.
Written by urgent.news from RTHK News - Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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