Hong Kong Stocks Jump 2% on Tech Rally Near 4-Year High

Industry Insights from Next Move Strategy Consulting

Asia-Pacific markets rose on Monday, with China and Hong Kong stocks leading the gains, following Federal Reserve Chair Jerome Powell’s indication in his widely watched annual Jackson Hole speech that the central bank may start easing monetary policy next month.

Hong Kong Stocks Surge, Tech and Property Sectors Lead Gains

Hong Kong’s Hang Seng Index climbed 2.11%, approaching a four-year high. The rally was driven by strong performances in the property sector, with leading Chinese developers rising sharply—one gained 8.21%, another jumped 6.01%, and a third added 5.94%.

The technology sector also played a major role in the HSI’s advance. The Hang Seng Tech Index increased 3.11%, fueled by notable gains in Nio, which soared 14.73%, and semiconductor and electronics manufacturer ASMPT, which added 6.74%.

Asia-Pacific Markets See Broad Gains

Mainland China: The CSI 300 extended its winning streak for a fourth consecutive session, rising 1.39% and hitting a 37-month high earlier in the day.
Taiwan: The Taiex index surged 2.47%, recording strong gains.
South Korea: The Kospi index climbed 1.14%, while the small-cap Kosdaq advanced 1.92%.
Japan: The Nikkei 225 increased 0.27%, with the broader Topix index ticking up 0.1%.
Australia: The S&P/ASX 200 benchmark rose 0.22%, crossing the 9,000-point mark during the session.
India: The Nifty 50 added 0.35%, and the BSE Sensex edged up 0.23%.

Elsewhere in the Asia-Pacific region, investors are closely watching Singapore’s July consumer price index (CPI) data. Economists surveyed by Reuters anticipate a 0.6% year-on-year increase, matching June’s pace.

U.S. Markets Near Flatline Ahead of Nvidia Earnings

U.S. equity futures remained largely flat as investors await earnings from artificial intelligence leader Nvidia.

Last Friday, the Dow Jones Industrial Average surged 846.24 points, or 1.89%, reaching a record high of 45,631.74. The S&P 500 climbed 1.52% to 6,466.91, closing just three points below its all-time high, while the tech-focused Nasdaq Composite advanced 1.88% to end the session at 21,496.53

Source: CNBC

Prepared by: Next Move Strategy Consulting