Hong Kong Stocks Rise Again, Wall Street Leads
Hong Kong stocks continued their rally on Tuesday morning (February 10th). The Hang Seng Index rose 339 points (+1.3%) to 27,370, extending gains from the previous session and approaching its highest level in nearly two weeks.
Positive sentiment emerged from Wall Street overnight. The Dow Jones Industrial Average closed at a new record after technology stocks rebounded, recovering from last week's pressure triggered by concerns about a massive spending spree in the AI sector.
Geopolitically, the market also picked up signs that communication between the US and China was "reopening." US Treasury Secretary Scott Bessent said senior Treasury staff visited China last week to strengthen the Washington-Beijing communication channel. However, the euphoria remained limited as investors remained cautious ahead of the release of China's CPI and PPI data this week, before the Lunar New Year holiday begins on February 15th.
Most sectors rose, with the strongest gains seen in technology and consumer discretionary stocks. Some notable names: Pop Mart jumped 5.8%, SMIC rose 4.1%, JD Health gained 3.9%, and AIA Group rose 3.4%.
Meanwhile, Minth Group (automotive components) rose 2.4% after announcing the formation of a joint venture in the US with Leader Harmonious—one of the catalysts that fueled sentiment on the Hong Kong board this morning.
Source: Newsmaker.id
