FX.co ★ Hong Kong Stocks Rebound on Tech Rally

The Hang Seng Index gained 1.5%, or 375 points, to close at 25,490 on Monday, snapping a four-day losing streak as investors moved back into oversold names, with technology stocks leading the rebound. SenseTime climbed about 8.2% after the artificial-intelligence company projected first-half net profit of RMB 500 million to RMB 700 million, which would mark its first profit since listing in Hong Kong.

Hong Kong’s IPO market also stayed in the spotlight. China’s securities regulator approved Transsion Holdings’ planned Hong Kong listing, with the handset maker aiming to issue up to 132 million H-shares.

Still, investors remained cautious amid geopolitical risks and elevated oil prices, while awaiting China’s latest economic data for fresh indications of the strength of its recovery. Among notable movers were Tencent (+1.3%), Semiconductor Manufacturing International Corporation (+3.3%), MiniMax (+2.5%), and Lenovo (+0.5%).