The Hang Seng Index edged up to 0.5%, or 124 points, to 23,742 on Tuesday, marking the fourth consecutive session of gains, as a rally in major US technology stocks lifted sentiment and renewed optimism that the AI-driven bull market still has room to run after Wall Street’s technology sector posted strong overnight gains. However, gains were limited by concerns over upcoming IPO lock-up expirations in Hong Kong after Lotus Asset Management CIO Hao Hong warned that the release of locked-up shares could trigger strong selling pressure in recently listed companies. On the data front, investors also awaited China’s June CPI and PPI data due later this week for fresh clues on the country’s economic recovery. Technology shares led the advance, with Tencent Holdings (+3.4%), Xiaomi Corporation (+3.4%), Meituan (+3.8%), Lenovo (+2.9%), and Knowledge Atlas (+1.9%) among the top gainers.

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