FX.co ★ Hong Kong Stocks Rebound on Bargain Hunting

The Hang Seng Index climbed 1.5%, or 338 points, to 23,224 on Thursday, as gains in technology, financial, and retail stocks buoyed the broader market. Buying interest was underpinned by bargain hunting following recent declines, even as Wall Street suffered a technology-led selloff overnight. Sentiment toward technology shares remained upbeat, reflecting growing optimism about the long-term prospects of Hong Kong-listed internet companies. Confidence was further boosted by mounting enthusiasm for artificial intelligence, after Chinese developer Zhipu briefly surpassed HK$1 trillion in market capitalization last month. Meanwhile, according to reports, Kevin Warsh noted that inflation expectations and inflation risks had eased in recent weeks, while reaffirming the Federal Reserve’s commitment to restoring price stability. Among the notable gainers were Tencent (up 3.0%), Xiaomi (3.5%), Meituan (2.0%), Kuaishou (6.5%), and Akeso (7.3%).