Hong Kong stocks kicked off the week’s trading on a strong note on Monday, with the benchmark extending the gain from a three-year high as optimism about the resilience of China’s growth and the risk-on mood in global equities buoyed sentiment.
The Hang Seng Index rose 0.7 per cent to 24,994.14 at the close, a level not seen since November 19, 2021. The Hang Seng Tech Index gained 0.8 per cent. The city’s financial markets opened for trading despite the aftermath of Typhoon Wipha on Sunday, which triggered the highest warning signal, injured dozens of people and halted flights.
On the mainland, the CSI 300 Index and the Shanghai Composite Index both climbed 0.7 per cent.
Xinyi Solar Holdings and Meituan rallied on expectations that a coming Politburo meeting would yield more measures to weed out overcapacity in the e-commerce and photovoltaic industries. Bottled water maker Nongfu Spring surged on expectations that family…
