Hang Seng rebounds 405 points as tech leads
RTHK · 2 SOURCESabout 1 hour ago2 MIN
Summary
Hong Kong equities staged a notable rebound by midday after four consecutive down days, with the Hang Seng Index rising 405 points to 25,521 after earlier gaining as much as 428 points to 25,544. Turnover on the main board exceeded HK$118.2 billion by the lunch break, while the Hang Seng Tech Index rose 2.01% to 4,802, reclaiming the 4,800 level.
Key Points
- The Hang Seng Index opened 186 points higher and extended gains through the morning, closing the half-day at 25,521, up 1.61%, with turnover at HK$118.2 billion.
- The Hang Seng Tech Index rose 94 points, or 2.01%, to 4,802, as the ATMXJ group gained more than 1% to over 3%, led by JD.com.
- Major financial stocks were mostly firmer, with AIA and China Life up nearly 4% to nearly 5%, HSBC up nearly 2%, while Hong Kong Exchanges and Clearing was softer
- Chip shares rallied strongly, with Semiconductor Manufacturing International Corp. up 7.27% and Hua Hong Semiconductor up more than 7%, while optical communications names also advanced broadly.
- SenseTime jumped 10.68% to HK$1.55 after forecasting an interim profit of RMB5 billion to RMB7 billion, its first consolidated profit since listing.
Why It Matters
The rebound offers some relief for Hong Kong investors after a four-day slide, but market attention remains on whether funds continue rotating into Japan and South Korea, which some analysts say could keep short-term pressure on local equities. Investors are also watching upcoming mainland China economic data for signs that confidence in the second-half outlook can improve