Hong Kong equities rose 339 points, or 1.3%, to 27,370 in Tuesday morning trade, extending the strong gains from the previous session and nearing a two-week high. Sentiment was supported by a positive overnight lead from Wall Street, where the Dow closed at a record high as tech stocks rebounded following last week’s AI-driven sell-off.
Adding to the constructive tone, U.S. Treasury Secretary Scott Bessent said Monday that senior Treasury officials had visited China last week “to strengthen channels of communication” between Washington and Beijing. However, upside momentum was tempered by investor caution ahead of the release of China’s CPI and PPI data later this week, just before the Lunar New Year holiday begins on February 15.
Gains were broad-based across most sectors, led by technology and consumer stocks. Auto parts maker Minth Group climbed 2.4% after announcing a U.S. joint venture with Leader Harmonious. Other notable outperformers included Pop Mart Intl. (up 5.8%), SMIC (4.1%), JD Health Intl. (3.9%), and AIA Group (3.4%).
