Hong Kong stocks kicked off the week with a gain on Monday after soft economic data and declining home prices in mainland China increased bets on more forceful policy support.
The Hang Seng Index rose 0.7 per cent to 24,060.99 at the close, ending a two-day decline triggered by the military strikes in the Middle East. The Hang Seng Tech Index gained 1.2 per cent. On the mainland, the CSI 300 Index advanced 0.3 per cent, and the Shanghai Composite Index added 0.4 per cent.
Gold jeweller Chow Tai Fook Jewellery Group jumped 6 per cent after the military conflict between Iran and Israel sent bullion prices soaring close to a record. Xiaomi surged more than 4 per cent after planning to bring forward the launch of its latest electric vehicle amid strong demand. Wuxi Biologics plunged after a major shareholder sold a stake for HK$2.2 billion (US$280 million).
A mixed bag of economic data fuelled expectations that Beijing will take more…
