Hong Kong stocks rebound as technology shares lead gains
The Hang Seng Index rises 1.5%, or 375 points, to 25,490 on Monday, with technology shares leading the recovery after four straight sessions of declines.
Hong Kong Stocks Rebound on Tech Rally The Hang Seng Index rose 1.5%, or 375 points, to 25,490 on Monday, rebounding from a fourth consecutive session of decline as investors returned to beaten down stocks.
Technology shares were among the main drivers of the recovery.
SenseTime surged around 8.2% after the artificial-intelligence company forecast a first-half profit of RMB500 million to RMB700 million, which would mark its first profit since its Hong Kong listing.
Investor sentiment was supported by continued optimism over Hong Kong’s capital markets and strong IPO activity.
However, investors remained cautious about geopolitical risks and oil prices, while awaiting China’s latest economic data for signs of the strength of its recovery.
Among notable movers included Tencent (1.3%), Semiconductor Manufacturing International Corporation (3.3%), MiniMax (2.5%), and Lenovo (0.5%).