Hong Kong Stocks Jump as Tech Leads Rally

Hong Kong Stocks Jump as Tech Leads Rally

The Hang Seng Index jumped 1.9%, or around 466 points, to 23,963 on Wednesday, advancing as technology stocks led broad-based gains despite renewed geopolitical tensions in the Middle East. Sentiment remained resilient after the US launched fresh strikes on Iran in retaliation for attacks on commercial vessels in the Strait of Hormuz, even as the escalation pushed oil prices higher.

Risk appetite was supported by continued optimism surrounding artificial intelligence and technology sector, while Hong Kong's robust IPO market added to positive sentiment as Chinese autonomous driving firm Momenta Global was set to debut slightly above its offer price after raising HK$5.89 billion in its initial public offering, underscoring strong investor demand for technology listings.

Investors also looked ahead to China's June consumer and producer inflation data due on Thursday.

Among the top gainers were Tencent (2.4%), SMIC (2.9%), Lenovo (4.4%), Kuaishou (1.2%), and Xiaomi (2.9%)

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