Hang Seng opens higher, steadies with midday gain
AM730 · 2 SOURCESabout 4 hours ago2 MIN
Summary
Hong Kong equities started Monday with a modest rebound after last week’s sharp sell-off, with the Hang Seng Index opening 63 points higher at 23,156. The market then swung between gains and losses before recovering to a 100-point rise at the midday break, while turnover remained below HK$100 billion and the Hang Seng Tech Index stayed in negative territory.
Key Points
- The Hang Seng Index opened 63 points higher at 23,156 on Monday, after losing more than 1,000 points over the previous week
- The benchmark later fell as much as 83 points to 23,009, then rebounded to as high as 23,217 before ending the morning session at 23,193, up 100 points or 0.44%.
- Half-day turnover was about HK$93.04 billion, while intraday movement stayed narrow, with the morning high-low range below 210 points.
- The Hang Seng China Enterprises Index rose 39 points to 7,795, but the Hang Seng Tech Index fell 14 points to 3,857, down 0.37%.
- Among major stocks, Meituan rose 3.14% to HK$73.9, NetEase gained 2.19% to HK$187, while Lenovo dropped 3.8% and chip shares including SMIC and Hua Hong Semiconductor declined
Why It Matters
For Hong Kong investors, the morning session showed that bargain-hunting emerged after last week’s heavy losses, but sector performance remained uneven and sentiment was still cautious. The split between gains in some heavyweight and cyclical shares and weakness in technology and chip names suggests the market had not yet formed a broad-based recovery by midday.