The Hang Seng Index climbed 0.7%, or 163 points, to around 24,370 on Monday, supported by optimism over Beijing’s measures to stabilize the mainland stock market and positive developments in China’s technology sector.
Investor focus was on Tencent Holdings, which announced plans to issue senior unsecured bonds denominated in both US dollars and offshore yuan, with potential maturities ranging from 10 to 30 years. By contrast, reports of shareholder disputes at AI startup Moonshot AI ahead of its planned Hong Kong IPO raised fresh concerns about corporate governance and disclosure standards.
In commodities, Brent crude slipped 1.1% to US$103.50 a barrel, slightly easing inflation worries, although continued attacks on shipping and airports in the Gulf kept supply risks elevated. At the same time, US Treasury yields hovered near 24-year highs, while unease over rising AI investment costs and the looming release of US inflation data contributed to a cautious tone in broader markets.
Among notable movers, Tencent gained 0.7%, AIA rose 1.1%, MiniMax advanced 2.2%, Meituan edged up 0.8%, and Geely outperformed with a 4.1% increase.
