Hang Seng Strengthens, Financial Stocks Lead
The Hang Seng Index strengthened again for the second consecutive day in Hong Kong trading on Monday (July 13th). The index rose 0.2%, or 38.6 points, to 24,213.72, marking its highest close since June 17, 2026.
The index's gains were primarily driven by financial sector stocks. Industrial & Commercial Bank of China (ICBC) was the largest contributor to the Hang Seng's gains, with its shares rising 2.6%. Meanwhile, China Hongqiao Group recorded the largest gain in the index, surging 3.6%.
Of the 93 index members, 52 stocks rose, while 37 stocks fell. Sectorally, two of the four major sectors recorded gains, with financial stocks leading the gains during the session.
In the past five days, the Hang Seng has strengthened 2.5%, although it is still down 2% in the past 30 days. Compared to its 52-week high on January 29, 2026, the index remains 13.7% lower. However, from its low on June 26, 2026, the Hang Seng has recovered approximately 7.5%.
In terms of valuation, the Hang Seng is trading at a price-to-earnings ratio of 12.6 times current earnings and approximately 11 times estimated earnings for next year. The index's dividend yield is 3.1%, while the total market capitalization of its members reaches HK$28.8 trillion. The decline in 30-day volatility to 21.37% also indicates that market pressure is easing somewhat. (asd)
Source: Newsmaker.id
