Hong Kong Stock Exchange Rebounds, Xiaomi and Trip.com Support
Hong Kong's stock market rallied at the start of the week, recovering some of the pressure from the previous session. The Hang Seng Index rose 0.4%, or around 101 points, to 25,063 on Monday (July 27th).
The index's gains were led by technology and financial stocks. Market participants began to take positions ahead of a busy week with global events, including major central bank policy decisions and the release of major corporate earnings reports.
Market sentiment also improved after geopolitical tensions eased slightly. The United States temporarily halted its attack on Iran over the weekend, causing oil prices to fall sharply and investor appetite for riskier assets to rebound.
Furthermore, optimism regarding Hong Kong's IPO pipeline also supported market movements. Progress on Shein's planned Hong Kong listing was one factor helping maintain positive investor sentiment.
However, gains on the Hang Seng remained limited as investors awaited the Federal Reserve's monetary policy decision and the release of China's PMI data this week. In terms of market impact, the strengthening of the Hang Seng indicates a recovery in risk appetite, but volatility is still possible if the Fed signals a hawkish stance or China's PMI data indicates an economic slowdown. Stocks that gained included Xiaomi (up 4.8%), Meituan (3.2%), Z.Ai Co. (0.7%), Tencent (0.8%), and Trip.com (7.4%). (asd)
Source: Newsmaker.id
