Hang Seng Rises 0.7% at Finish
The Hang Seng rose 169 points or 0.7% to close at 24,902 on Tuesday, reversing early losses and marking its second consecutive session of gains.
Sentiment improved after a private survey showed China’s services activity grew at the fastest pace in 14 months in July, supported by rises in new orders, foreign sales, and employment. A rally on Wall Street also lifted mood, as weaker U.S. jobs data fueled bets on a Fed rate cut in September.
Gains were broad-based, led by financials, tech, and consumers, as investors looked past weather-related disruptions in Hong Kong, including heavy rain and flooding. Strong momentum in mainland markets further encouraged buying, amid hopes for an extension of the current U.S.-China trade truce.
Li Auto rose 1.4% after consolidating three EV variants into a single version. Other notable gainers included Bank of China Hong Kong (4.7%), China Tower (3.6%), Hansoh Pharma (3.1%), and Kuaishou Technology (2.7%).
Source: Trading Economics
