Hong Kong Stocks Climb Higher

The Hang Seng Index rose 1.3%, or 305 points, to 24,995 on Thursday, extending gains as investor sentiment improved following softer-than-expected US inflation data and optimism across global markets. The rally was supported by buying in financial, consumer, and technology stocks, while investors continued to rotate into Hong Kong-listed equities despite weaker-than-expected Chinese economic data. Market sentiment was buoyed after US producer prices unexpectedly fell in June, reinforcing expectations that inflation pressures are easing. However, investors remained cautious as crude oil extended gains after the United States launched fresh strikes on Iran, heightening concerns that escalating Middle East tensions could disrupt global energy supplies and keep inflationary pressures elevated. Notable gainers were Tencent (2.0%), Xiaomi (3.7%), Meituan (2.9%), AIA (1.1%), and Pop Mart International (4.4%).




