FX.co ★ Hong Kong Shares Rebound to Kick Off the Week

On Monday morning, Hong Kong's stock market saw a rise of 266 points, or 1.0%, reaching 25,478 as it broke a six-session losing streak and rebounded from a five-week low. The upturn was broadly supported as traders sought deals in sectors such as property, finance, and technology. Enhanced optimism toward risk-taking was influenced by a surge in U.S. futures, following positive momentum on Wall Street. This was in light of recent comments from New York Fed President John Williams, who indicated the possibility of a third interest rate cut within the year due to vulnerabilities in the labor market. Additional positive sentiment came from Premier Li Qiang’s assertion that China’s regulations on essential minerals are aimed at balancing security with cooperative initiatives. Nonetheless, gains were tempered by prevailing caution ahead of the release of China’s industrial profits data later in the week and Hong Kong’s October trade figures slated for Tuesday. Among the top performers were pharmaceutical companies such as Innovent Biologics with a 4.0% rise, Hansoh Pharma at 3.0%, and Akeso Inc. at 2.7%. Other notable stocks include CK Hutchison, which gained 3.3%, Kuaishou Technology at 2.8%, and Xiaomi Corporation at 1.5%.