HK Stocks Extend Gains; HSTECH up 1.4%; MiniMax up 26%; Meituan up 6%; Kuaishou up 5%; Alibaba up 3%
Market Watcher10:52
Hong Kong stocks edged higher on Monday, lifted by gains in technology and biopharmaceutical shares that helped push the benchmark index up.
The Hang Seng Index rose 0.4%, while the Hang Seng Tech Index rose 1.4%.
In terms of star stocks, MiniMax rose 26%; Meituan rose 6%; Kuaishou up 5%; Bilibili, Baidu rose 4%; Alibaba up 3%; Tencent rose 2%; JD.com up 1%.
China delivered better than expected producer prices and consumer price growth on Friday, signalling a stabilising consumer trend long sought by Beijing, though analysts said the readings needed to be treated with caution. The trading debut of Chinese AI start-up Mini Max, which surged 43 per cent on Friday, also fuelled investor interest in AI and tech-related stocks.
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