The Hang Seng Index jumped 2.3%, or 551 points, to 25,115 on Monday, rebounding from Friday’s steep losses as technology and consumer stocks led a broad-based advance despite ongoing geopolitical tensions in the Middle East.
Market sentiment improved after Beijing intensified efforts to stabilize its equity markets, with two major state-backed funds disclosing new share purchases and regulators planning meetings with key industry participants. These moves bolstered confidence in Chinese assets.
Bargain hunting following last week’s global tech-led selloff, together with optimism over upcoming corporate earnings, further underpinned risk appetite. However, investors remained wary of geopolitical risks and their potential effects on energy prices and global inflation.
Among the notable gainers were Tencent (+1.7%), Semiconductor Manufacturing International Corporation (+4.3%), Xiaomi (+1.3%), Kingboard Laminates (+5.4%), and Shanghai Iluvatar CoreX (+3.6%).
