Trending
hang-seng
Source: Newsmaker.id
The Hang Seng Index rose 0.5% to approximately 23,217 in Monday’s trading session (October 26), attempting a recovery following a sharp sell-off the previous week. The gains were primarily driven by energy stocks, buoyed by rising oil prices, with PetroChina, Sinopec, and CNOOC posting significant advances.
However, the market rebound remained limited as concerns regarding the outlook for artificial intelligence (AI) investments weighed on semiconductor stocks. Gold mining shares also weakened in line with a decline in gold prices, while investors maintained a cautious stance ahead of earnings reports from major U.S. technology companies.
On the corporate front, Meituan shares strengthened following a proposal to issue yuan-denominated senior notes, while Sinopharm Group also saw gains. These movements helped offset pressure from the technology sector, keeping the index in positive territory.
Investors are also closely monitoring China’s Fifth Plenary Session for clues regarding the future direction of economic policy. Meanwhile, upcoming data on industrial profits for September and China’s Purchasing Managers' Index (PMI) for October—both due this week—are being watched for insights into the momentum of the economic recovery.
The future trajectory of the Hang Seng will be influenced by a combination of oil prices, the performance of global technology stocks, Chinese policy, and decisions from major central banks. Investors will need to watch whether the strength in the energy sector can sustain the index's recovery, given ongoing concerns surrounding valuations and AI-related investments. (srh)
Source: Newsmaker.id