Hong Kong Stocks Rise as Oil Slips, Tech Leads
The Hang Seng Index rose 0.8%, or around 200 points, to around 24,800 on Friday, as easing oil prices and softer US Treasury yields improved market sentiment after the Federal Reserve raised interest rates by 25 basis points to 3.75%-4.00% and signaled the possibility of another hike this year. Brent crude fell below $104 a barrel after declining for a third straight session, easing concerns over inflation and higher borrowing costs. Wall Street also rebounded sharply overnight, with the S&P 500 and Nasdaq gaining more than 1%, supporting risk appetite across Asian markets. Technology shares led gains in Hong Kong, tracking the tech-led rally on Wall Street. Notable movers included Z.AI Co. (4.5%), Tencent (0.7%), Lenovo (2.7%), MiniMax (7.3%), and SMIC (2.4%). Investors continued to monitor developments in the Middle East and the outlook for further US monetary tightening, while attention also turned to the planned meeting between President Trump and President Xi next week.
00% and signaled the possibility of another hike this year. Brent crude fell below $104 a barrel after declining for a third straight session, easing concerns over inflation and higher borrowing costs. Wall Street also rebounded sharply overnight, with the S&P 500 and Nasdaq gaining more than 1%, supporting risk appetite across Asian markets. Technology shares led gains in Hong Kong, tracking the tech-led rally on Wall Street.
AI Co. 4%). Investors continued to monitor developments in the Middle East and the outlook for further US monetary tightening, while attention also turned to the planned meeting between President Trump and President Xi next week.