FX.co ★ Hong Kong Stocks Rise on Chip Rally

The Hang Seng Index climbed 1.2%, or 283 points, to close at 24,327 on Friday, following gains in US chipmakers that helped spark an overnight rebound on Wall Street. The rally was driven by renewed optimism toward technology stocks, which outweighed persistent concerns over tensions in the Middle East, while softer oil prices further bolstered risk appetite.

Market sentiment improved further on reports that the United States and Iran intend to continue technical discussions despite recent military strikes, reinforcing hopes that sustained diplomatic engagement could avert a broader regional escalation.

Investors also remained focused on Hong Kong’s strong IPO pipeline, underpinned by solid fundraising activity from Chinese technology companies. Tech stocks led the market higher, with Semiconductor Manufacturing International Corporation and Kingboard Laminates advancing 4.4% and 10.6%, respectively. Other notable gainers included HKEX (+1.7%), Kuaishou (+2.0%), ASMPT Limited (+6.2%), and InnoScience Technology (+3.6%).