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04.09.202602:37:09UTC+00Hong Kong Stocks Hit 2-Week High on Tech Rally

The Hang Seng Index climbed 2.2%, or 541 points, to open at 25,751 on Friday, rebounding from the previous session’s losses and hitting its highest level since August 21. The advance was driven by a global technology rally and fading expectations of a Federal Reserve rate hike in September.

Technology shares worldwide gained overnight after Fed Governor Christopher Waller signaled he would favor holding rates steady if inflation continues to cool. His remarks eased fears of tighter monetary policy and helped strengthen risk appetite.

Sentiment toward the tech sector was further bolstered by reports that Chinese AI company Moonshot AI has confidentially filed for a Hong Kong IPO that could raise about US$3 billion.

Among major movers, Tencent Holdings rose around 2.2% after an HKEX filing showed it repurchased 229,000 shares for HK$100.3 million on September 3. Other notable tech gainers included MiniMax (+7.8%), Xiaomi (+3.9%), and Meituan (+3.7%).

Financial stocks also advanced, adding roughly 2.4%, led by AIA Group (+1.4%), Hong Kong Exchanges and Clearing (+1.5%), and China Resources Land (+2.4%).

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