Hong Kong Stocks Rally on Tech Gains

Hong Kong Stocks Rally on Tech Gains

The Hang Seng Index surged 640 points, or 2.5%, to close at 26,038 on Tuesday, extending its rally from the previous session as technology stocks led broad-based gains.

Market sentiment was boosted by continued optimism surrounding artificial intelligence-related investments, following fresh record highs on Wall Street overnight driven by major US technology shares.

Technology counters spearheaded the advance, with Tencent Holdings and Meituan jumping 10.9% and 9.1%, respectively.

Financial and retail trade stocks also supported the rally, reflecting improved confidence in economic prospects and consumer demand.

Other notable gainers included Semiconductor Manufacturing International (2.8%), Lenovo (5.9%), Xiaomi (2.9%), and Kuiashou Technology (5.5%).

Meanwhile, traders continued to monitor developments in global trade negotiations and geopolitical tensions in the Middle East for further clues on the market outlook.

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