{
  "id": 13860570,
  "title": "HK stocks rise as focus turns to US earnings",
  "url": "https://urgent.news/2026/10/12/hk-stocks-rise-as-focus-turns-to-us-earnings",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T03:10:14.000Z",
  "source": {
    "name": "RTHK News - Finance",
    "slug": "rthk-news-finance",
    "url": "https://news.rthk.hk/rthk/en/component/k2/1873567-20261012.htm"
  },
  "original_language": "en",
  "account": "Asian share markets started cautiously on Monday, as upcoming earnings reports loomed over high-tech valuations, while oil prices fluctuated after strikes at shipping and airports in the Gulf. In Hong Kong, the Hang Seng Index opened 223 points, or 0.9%, higher at 24,434. The China Enterprises Index climbed 81 points, or 1%, to 8,229, and the tech index rose 43 points, or 1.03%, to 4,241. Meanwhile, in China, the Shanghai Composite Index opened six points, or 0.18%, lower at 3,806, while the Shenzhen Composite Index fell 54 points, or 0.43%, to 12,586, and the ChiNext Index slipped 19 points, or 0.65%, to 3,023. Brent futures began higher before dropping 1.1% to $103.50 a barrel, deviating from the recent peak of $109.97, and US crude futures declined 1.2% to $90.73 a barrel. The Korea Composite Stock Price Index opened 47 points, or 0.72%, lower at 6,578, and dropped further to 1,177 points down at one point before lunch. Trading was light due to Japan's markets being closed and the US observing a partial holiday prior to the earnings season, with major US banks commencing operations on Tuesday. S&P 500 earnings are anticipated to have increased by more than 30% in the third quarter, per LSEG IBES, with the majority of that surge originating from the tech sector. My Bui, an economist at AMP, pointed out that all the gains in the S&P 500 since mid-September had been in tech, while investors are demanding higher yields to finance the substantial borrowing for AI. The US investment-grade credit default swap index, which measures the cost of insurance against default, had also surged to its highest level since the Iran war commenced. Overall, wider spreads indicate investors are uncertain if AI revenues can keep up with rising borrowing costs.",
  "summary": "Asian share markets got off to a cautious start on Monday as earnings season loomed as a challenge to sky-high tech valuations, while oil was choppy after strikes on shipping and airports in the Gulf. In Hong Kong, the benchmark Hang Seng Index opened up 223 points, or 0.9 percent, at 24,434. The China enterprises index was up 81 points, or 1 percent, at 8,229 and the tech index was 43 points, or…",
  "key_points": [
    "Hong Kong stocks rise 0.9% to 24,434 points",
    "China's Shanghai and Shenzhen indices fall 0.18% and 0.43%",
    "US earnings season begins Tuesday"
  ],
  "editors_take": "The cautious movement in Asian markets reflects investor anxiety over whether massive technology sector investments can generate sufficient revenue to offset rising borrowing costs and higher yields.",
  "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."
}