FX.co ★ Hong Kong Stocks Trade Higher to Begin the Week

Hong Kong's stock market experienced an upward shift, with shares rising by 115 points, or 0.4%, to reach 26,352 in Monday morning trading. This increase marked a recovery from previous declines, as gains were primarily driven by consumer and property stocks. Market sentiment received a boost after China's consumer prices for October unexpectedly increased by 0.2% year-on-year, marking the first such rise since June. This uptick was attributed to holiday spending and expanded trade-in programs. Additionally, producer prices fell at their slowest rate in 14 months, alleviating deflation fears and bolstering industrial margins amidst ongoing price competition. Meanwhile, U.S. futures saw an advance after a turbulent week, buoyed by optimism regarding a potential resolution to the record-length U.S. government shutdown, following support from moderate Senate Democrats for a funding agreement. Nonetheless, gains were tempered as investors awaited significant Chinese data releases covering credit growth, industrial output, and retail sales. Among the early standout performers were Pop Mart International with a 3.9% rise, Zhaojin Mining Industry increasing by 3.0%, Tencent Holdings up by 2.1%, and Henderson Land Development advancing by 1.8%.