Hong Kong Stocks Jump at the Start of the Week
Hong Kong stocks surged on Monday morning. The Hang Seng Index rose 488 points, or around 1.8%, to 27,051, rebounding after weakening in the previous session.
Sentiment was also lifted by Wall Street. Friday's rally pushed the Dow Jones Industrial Average past 50,000 for the first time, providing a tailwind for Asian markets. Investors also began to focus more on US growth prospects and the possibility of a Fed interest rate cut, rather than worrying too much about AI spending.
Locally, there was some upbeat news: Hong Kong's foreign exchange reserves reportedly reached a three-year high in January. This signaled stability and helped ease market anxiety.
Strengthening occurred across almost all sectors, particularly financial, property, and technology—in line with positive movements in mainland Chinese markets. However, the market remained cautious ahead of the release of Chinese inflation data (CPI and PPI) this week, plus the Lunar New Year holiday, which begins February 15th.
Some of the stocks that stood out early in the session included China Overseas Land, KE Holdings, SMIC, AIA Group, and HKEX. The most notable was Montage Technology, which surged 57% in its Hong Kong debut after raising approximately HKD 7.04 billion—a sign of continued strong investor interest in hardware technology companies, particularly major players in the chip supply chain.
Source: Newsmaker.id
