The Hang Seng Index gained 0.5%, or 121 points, to close at 24,872 on Monday, driven by strength in technology and health tech stocks. Asian equities broadly benefited from sustained optimism over robust demand for AI infrastructure, while a pullback in oil prices offered additional support, with Brent crude easing to around $102 per barrel on expectations of a gradual restoration of Saudi supply.
Hong Kong’s IPO market also remained in the spotlight. AI infrastructure software provider Transwarp Technology rose 6.2% on its Hong Kong debut after pricing its offering at HK$49 per share and securing access to the Southbound Stock Connect on its first day of trading.
Among notable movers were Tencent (+2.1%), XtalPi (+4.1%), SMIC (+1.0%), Genscript Biotech (+6.7%), and Innovent Biologics (+6.0%).
Investors also monitored geopolitical developments ahead of the planned meeting between US President Donald Trump and Chinese President Xi Jinping, with trade, technology, and AI-related restrictions expected to be key topics of discussion.
