Hong Kong stocks edged higher on Monday, lifted by gains in technology shares that helped push the benchmark index up.
The Hang Seng Index rose 0.9 per cent to 26,456.22 at the noon break, while the Hang Seng Tech Index climbed 2.1 per cent. On the mainland, the CSI 300 Index advanced 0.4 per cent and the Shanghai Composite Index gained 0.7 per cent.
Chinese delivery giant Meituan led the tech share gains by rallying 7.3 per cent to HK$105.70. Kuaishou Technology, a short-video platform operator, rose 5.6 per cent to HK$78.90 and Alibaba Group Holding climbed 5.3 per cent to HK$154.30.
Limiting the gains, Chinese drug maker Hansoh Pharmaceutical Group fell 3.2 per cent to HK$40.28, carmaker Geely Automobile lost 3.1 per cent to HK$16.66 and garment maker Shenzhou International dropped 3 per cent to HK$62.25.
China delivered better than expected producer prices and consumer price growth on Friday, signalling a stabilising consumer trend long sought by Beijing, though analysts said the readings needed to be treated with caution.
The trading debut of Chinese AI start-up Mini Max, which surged 43 per cent on Friday, also fuelled investor interest in AI and tech-related stocks. Its shares surged another 31 per cent during Monday morning’s trading hours.
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