FX.co ★ Hong Kong Stocks Rise on Global Tech Gains

The Hang Seng Index rose 0.8%, or 203 points, to 24,240 on Tuesday, extending its advance as a technology-led rally in global markets lifted sentiment. Wall Street ended higher overnight on optimism surrounding artificial intelligence and increased buyout activity, even as U.S. Treasury yields hovered near 5.31%.

Risk appetite was further supported by softer oil prices, with Brent crude trading around US$100 a barrel after a 1.9% decline in the previous session, driven by higher Middle East exports and a pledge from G7 nations to boost supply. Trading in Hong Kong remained relatively subdued, however, as mainland Chinese markets were closed for the National Day holiday.

AI-related stocks stayed in the spotlight, while biotech names also advanced. HSBC attracted attention after the Hong Kong Monetary Authority questioned its decision to establish a global AI hub in Singapore instead of Hong Kong.

Among notable movers were Z.AI Co. (+7.8%), Tencent (+1.0%), Genscript Biotech (+5.5%), MiniMax (+4.3%), and Wuxi Biologics (+3.3%).