(RTTNews) – Hong Kong’s stock market has risen for two consecutive sessions, gaining nearly 500 points or 2.5 percent. The Hang Seng Index currently hovers just below the 20,200-point threshold, though momentum may stall on Tuesday.
Global Asian markets are anticipated to face weakness, with oil and technology stocks likely to decline. European and U.S. markets edged lower on Monday, suggesting similar trends may unfold in Asian bourses.
The Hang Seng concluded Monday’s session with modest gains, driven by financial stocks, property sectors, and technology companies.
For the day, the index rose 131.58 points or 0.66 percent to close at 20,197.77, trading between 20,118.02 and 20,296.94.
Among heavily traded shares, Alibaba Group and ENN Energy Holdings each increased by 2.95 percent, while Alibaba Health Info rose 1.17 percent. ANTA Sports gained 0.80 percent, China Life Insurance up 0.41 percent, and China Resources Land advanced 1.72 percent. CITIC fell 0.45 percent, while CNOOC and CSPC Pharmaceutical both rose 1.19 and 1.58 percent respectively. Galaxy Entertainment surged 3.31 percent, Haier Smart Home spiked 2.16 percent, and Hang Lung Properties climbed 4.37 percent. Industrial and Commercial Bank of China jumped 1.71 percent, JD.com added 1.03 percent, Li Auto accelerated 2.56 percent, and Xiaomi Corporation increased 0.68 percent. Conversely, Li Ning declined 0.25 percent, Meituan eased 0.20 percent, and Techtronic Industries dropped 1.42 percent. WuXi Biologics and Hong Kong & China Gas rose 1.21 and 1.35 percent, respectively. New World Development and Nongfu Spring gained 0.48 and 0.14 percent, while Lenovo edged up 0.21 percent.
The Dow Jones Industrial Average managed a slight gain, but the NASDAQ Composite and S&P 500 ended Monday’s session with substantial losses.
The Dow rose 289.33 points or 0.65 percent to close at 44,713.58, while the NASDAQ plummeted 612.47 points or 3.07 percent to 19,341.83 and the S&P 500 declined 88.96 points or 1.46 percent to 6,012.28.
A broad sell-off on Wall Street was led by technology stocks, with AI pioneer Nvidia (NVDA) experiencing a sharp drop following Chinese AI startup DeepSeek’s assistant surpassing ChatGPT as the top-rated free App Store application in the U.S.
Market sentiment was further dampened by concerns over interest rate projections ahead of the Federal Reserve’s policy meeting, with recent data fueling speculation about prolonged rate pauses.
Oil prices tumbled sharply on Monday, pressured by tariff-related uncertainties and weakening Chinese manufacturing output. West Texas Intermediate Crude futures for March delivery fell $1.49 or 2 percent to $73.17 per barrel.
