{
  "id": 12289676,
  "title": "HK stocks climb on back of tech optimism, oil retreat",
  "url": "https://urgent.news/2026/10/06/hk-stocks-climb-on-back-of-tech-optimism-oil-retreat",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T02:57:09.000Z",
  "source": {
    "name": "RTHK News - Finance",
    "slug": "rthk-news-finance",
    "url": "https://news.rthk.hk/rthk/en/component/k2/1872842-20261006.htm"
  },
  "original_language": "en",
  "account": "Hong Kong stocks experienced a significant rise on Tuesday due to optimism surrounding the tech sector. The Nasdaq achieved a record high, while the Hang Seng Index gained 1% to open at 24,279. Tech stocks led the rally, with the tech index increasing 1.02% and the China enterprises index up 0.99%. The euro stalled near a 17-month low after temporarily reaching US$1.116, negatively impacted by fiscal concerns in France. Investors sold French government bonds following a disappointing budget and heightened political uncertainty after Spanish Prime Minister Pedro Sanchez announced early elections. Brent crude prices remained stable at $100 a barrel despite a 1.9% drop overnight due to increased Middle East exports and the G7's pledge to boost supplies. Mainland Chinese indices were closed for the National Day golden week holiday, while the Nikkei in Tokyo inched up slightly before accelerating later in the day. Seoul's Kospi opened nearly 41 points, or 0.58%, at 7,044 before declining to 20 points lower at one point before noon. The Nasdaq and S&P 500 futures rose marginally, with Nasdaq futures up 0.2% and S&P 500 futures increasing 0.1%. The market rally was primarily driven by tech stocks, with AI giant Nvidia climbing 2.1%, reaching a record-high close and increasing its market value to $5.76 trillion. Analysts attribute the market's upward trend to softer-than-expected jobs data, easing interest rate uncertainty, and reduced geopolitical concerns, allowing investors to focus on the extraordinary earnings growth from AI companies. As the third-quarter earnings season begins, Goldman Sachs forecasts a 27% growth in S&P 500 earnings for the upcoming quarter, with more than half of this growth attributed to companies benefiting from AI infrastructure spending. Meanwhile, US 10- and 30-year Treasury yields reached record highs, climbing to 24-year peaks due to ongoing inflation and debt concerns.",
  "summary": "Asian stocks rose on Tuesday after a tech-fuelled rally lifted the Nasdaq to a record close, with a retreat in oil prices offering further support even as longer-dated Treasury yields hovered near multi-decade highs. In Hong Kong, the benchmark Hang Seng Index climbed 239 points, or one percent, higher to open at 24,279. The tech index was up 42 points, or 1.02 percent, at 4,226 while the China…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}