Hong Kong Stocks Rebound at Start of New Week
The Hang Seng Index rose 0.6%, or 131 points, to around 24,612 on Monday, recovering part of Friday’s sharp decline as investor sentiment improved, with technology and AI-related stocks leading the gains. Regional sentiment strengthened following Friday’s rebound in US equities, while optimism surrounding China’s AI industry received a boost from DeepSeek, whose open-source AI agent application, DeepSeek Harness, reached 1.54 million daily active users by November 4. Meanwhile, China’s October inflation data showed producer-price growth accelerating, pointing to improving industrial price conditions, although consumer inflation eased. Investor appetite for Hong Kong listings was further highlighted by the strong debut of Chinese energy storage firm RelyEZ Energy Storage Technology, whose shares surged as much as 127% above their IPO price after raising HK$562.7 million. Notable movers included Tencent (0.9%), Xiaomi (0.7%), Z.AI Co. (1.1%), MiniMax (2.3%), and SMIC (1.5%).
The Hang Seng Index rose 0.6%, or 131 points, to around 24,612 on Monday, recovering part of Friday’s sharp decline as investor sentiment improved, with technology and AI-related stocks leading the gains. Regional sentiment strengthened following Friday’s rebound in US equities, while optimism surrounding China’s AI industry received a boost from DeepSeek, whose open-source AI agent application, DeepSeek Harness, reached 1.54 million daily active users by November 4. Meanwhile, China’s October inflation data showed producer-price growth accelerating, pointing to improving industrial price conditions, although consumer inflation eased.
Investor appetite for Hong Kong listings was further highlighted by the strong debut of Chinese energy storage firm RelyEZ Energy Storage Technology, whose shares surged as much as 127% above their IPO price after raising HK$562.7 million. Notable movers included Tencent (0.9%), Xiaomi (0.7%), Z.AI Co. (1.1%), MiniMax (2.3%), and SMIC (1.5%).