HK Stocks Eye 25,000 as US Rebound Lifts Sentiment
SingTao · 2 SOURCESabout 5 hours ago2 MIN
Summary
US stock markets staged a dramatic comeback on Monday, November 10, 2026, with the Dow Jones Industrial Average surging 1,104 points or 2.15% to close at 52,389 . The rally came as investors scooped up beaten-down equities despite Nvidia CEO Jensen Huang facing scrutiny over personal conduct and potential foreign intelligence concerns . Hong Kong stocks, which had rallied sharply on a gap-open last Thursday, continued consolidating at elevated levels, with the Hang Seng Index finishing Monday's session down 32 points at 24,448 on reduced turnover of HK$173.7 billion . Market strategists remain divided on whether the recent rebound signals a sustained recovery or merely a temporary respite before further downside.
Key Points
- The S&P 500 rose 172 points (2.35%) to 7,549 and the Nasdaq Composite gained 673 points (2.74%) to 25,253 on Monday
- Nvidia shares fell 4.3% after the company announced an independent investigation into CEO Jensen Huang amid reports he may be a target of foreign intelligence operations
- The Hang Seng Index traded between its 5-day, 50-day and 100-day moving averages as it seeks direction after last week's gap-up surge
- WuXi AppTec (2359) jumped 6% after being removed from the US Department of Defense's CMC list, while AI-related Lenovo (992) gained 6%
- North-bound capital flows showed a net buy of HK$1.856 billion on Monday, with Meituan, China Mobile and CNOOC attracting the most buying
Why It Matters
The US market recovery provides a supportive backdrop for Hong Kong equities, but the key question is whether recent inflows into undervalued HK stocks can continue now that AI shares are rebounding stateside . If the Hang Seng can maintain its position above the critical 20-day moving average while the 50-day and 100-day lines stabilize this week, analysts see potential for a test of the 25,000-25,400 zone before month-end . Conversely, a breakdown below the 24,150 support level would likely trigger a retest of last Thursday's gap-open bottom around 24,000 .
The US market recovery provides a supportive backdrop for Hong Kong equities, but the key question is whether recent inflows into undervalued HK stocks can continue now that AI shares are rebounding stateside . If the Hang Seng can maintain its position above the critical 20-day moving average while the 50-day and 100-day lines stabilize this week, analysts see potential for a test of the 25,000-25,400 zone before month-end . Conversely, a breakdown below the 24,150 support level would likely trigger a retest of last Thursday's gap-open bottom around 24,000 .