Hong Kong Stocks Gain for Second Session

The Hang Seng Index rose 0.7%, or 171 points, to 25,868 on Friday, extending gains from the previous session as investors welcomed softer local inflation. Hong Kong’s annual inflation rate eased to 1.7% in July from 2.0% in each of the previous two months. Electronic technology, producer manufacturing, and financial shares led the advance. Investors assessed reports that fast-fashion retailer Shein had postponed its Hong Kong IPO to September following a delay in taking investor orders. Among individual stocks, J&T Global Express was among the strongest performers after reporting a 124% year-on-year jump in first-half adjusted net profit to US$350.6 million, driven by robust parcel growth and expanding international operations. Xiaomi (1.4%), MiniMax (4.5%), AIA (1.8%), Z.AI Co. (1.5%), and Kuaishou (0.7%) advanced. However, gains were tempered by elevated oil prices, with Brent crude holding above US$93 per barrel, keeping investors cautious about the inflation outlook.





