Hong Kong Advance on Tech, Health-Tech Gains

The Hang Seng Index rose 0.5%, or 121 points, to 24,872 on Monday, led by technology and health tech stocks as Asian equities benefited from continued optimism over strong demand for AI infrastructure, while easing oil prices provided some relief as Brent crude slipped to around $102 a barrel amid hopes of a gradual restoration of Saudi supply. Hong Kong’s IPO market also remained in focus, with AI infrastructure software provider Transwarp Technology (6.2%) making its Hong Kong debut after raising funds at HK$49 per share and gaining access to Southbound Stock Connect on its first trading day. Notable movers included Tencent (2.1%), XtalPi (4.1%), SMIC (1.0%), Genscript Biotech (6.7%) and Innovent Biologics (6.0%). Investors meanwhile awaited further developments ahead of the planned meeting between US President Donald Trump and Chinese President Xi Jinping, with trade, technology and AI restrictions among the issues in focus.