HONG KONG — Hong Kong’s stock market posted gains on futures settlement day, with the Hang Seng Index (HSI) advancing amid broad-based but mixed movements across key sectors.
The benchmark Hang Seng Index opened 101 points higher at 22,073 and continued its upward momentum, climbing by 120 points, or 0.54%, to 22,092. By 10:19 a.m., the index had risen further, trading at 22,164.19, up 192.23 points or 0.87%. Total turnover on the main board reached HK$31.6 billion.
The China Enterprises Index increased by 41 points, or 0.51%, to 8,121, while the Hang Seng Tech Index outperformed with a 44-point gain, or 0.89%, reaching 5,033.
Tech Sector Sees Divergent Trends
Technology shares delivered a mixedperformance. Tencent dipped 0.4%, while Alibaba was marginally lower by 0.1%. Meituan emerged as a top gainer in the sector, rising 2.4%. JD.com added 1.4%, Xiaomi declined 0.2%, and Kuaishou edged up 0.1%.
Financials Hold Steady
Financial stocks maintained a relatively stable trajectory. HSBC Holdings rose 0.6%, AIA Group added 0.4%, and China Ping An climbed 0.6%. Hong Kong Exchanges and Clearing (HKEX) saw a modest increase of 0.1%.
Auto Stocks Mixed Amid Volatility
Automakers showed varied performance. BYD fell 1.1%, and XPeng (Xiaopeng Motors) dropped 2.1%. In contrast, Geely advanced 2.2%, NIO surged 5.1%, and Li Auto jumped 3.5%.
Biotech Boost from Strong Earnings
WuXi AppTec reported a robust 89% year-on-year rise in first-quarter profits, sending its shares up by 5.8%. WuXi Biologics, another major biotech name, also gained 2.4%.
Market sentiment appeared buoyed by futures settlement activity, corporate earnings results, and moderate sector strength. Investors are watching closely for sustained momentum as the Hang Seng attempts to consolidate recent gains.
