Hong Kong's stock market saw a significant rise in early trading on Monday, with the Hang Seng Index gaining 409 points, or 1.6%, to reach 26,533. This growth reversed a two-session losing streak, with advancements noted across all sectors. Investor sentiment was boosted by robust U.S. futures and the announcement that President Trump would be meeting with congressional leaders later in the day to discuss measures to extend government funding and prevent a shutdown.
In addition, President Trump's impending tariffs, scheduled to commence on October 1, which will affect products like kitchen cabinets (50%), furniture (30%), and heavy trucks (25%), did not ignite the market volatility observed in April. However, gains were tempered by caution leading up to China’s National Day and Mid-Autumn Festival holidays, starting October 1, and in anticipation of the September Purchasing Managers' Index (PMI) data. The previous month’s figures showed mixed results, with official numbers indicating contraction while a private survey suggested a manufacturing rebound.
Early standout performers in the market included Sands China with a 4.8% increase, Kuaishou Technology rising by 4.0%, KE Holdings climbing 3.7%, AIA Group improving by 2.8%, and Meituan advancing 2.1%.
