Hong Kong Stocks Hit 2-Week High on Tech Rally

2026-09-04 02:37 By Jereli Escobar 1 min. read

The Hang Seng Index rose 1.7%, or 438 points, to close at 25,651 on Friday, rebounding from the previous session’s losses and reaching its highest level since August 21, supported by a global tech rally and reduced expectations of a September Fed rate hike.

Global technology stocks gained overnight after Fed Governor Christopher Waller signalled a preference to keep rates steady if inflation continues to cool.

Chinese AI firm Moonshot AI also reportedly confidentially filed for a Hong Kong IPO that could raise around US$3 billion, further lifting sentiment toward the tech sector.

Tencent Holdings climbed about 2.5% after an HKEX filing showed it bought back 229,000 shares for HK$100.3 million on September 3, while reports suggested that its heavy AI spending is unlikely to result in perpetual cash burn, easing concerns over the long-term impact of its AI investments.

Tech gainers included MiniMax (1.5%), Meituan (5.2%), and SenseTime (5.9%).

The benchmark gained 0.3% week-to-date.



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Hong Kong Stocks Hit 2-Week High on Tech Rally
The Hang Seng Index rose 1.7%, or 438 points, to close at 25,651 on Friday, rebounding from the previous session’s losses and reaching its highest level since August 21, supported by a global tech rally and reduced expectations of a September Fed rate hike. Global technology stocks gained overnight after Fed Governor Christopher Waller signalled a preference to keep rates steady if inflation continues to cool. Chinese AI firm Moonshot AI also reportedly confidentially filed for a Hong Kong IPO that could raise around US$3 billion, further lifting sentiment toward the tech sector. Tencent Holdings climbed about 2.5% after an HKEX filing showed it bought back 229,000 shares for HK$100.3 million on September 3, while reports suggested that its heavy AI spending is unlikely to result in perpetual cash burn, easing concerns over the long-term impact of its AI investments. Tech gainers included MiniMax (1.5%), Meituan (5.2%), and SenseTime (5.9%). The benchmark gained 0.3% week-to-date.
2026-09-04
Hong Kong Stocks Reverse Gains
The Hang Seng Index fell 0.4%, or 98 points, to close at 25,213 on Thursday, reversing earlier gains as investors took profits and sentiment weakened toward the close. The benchmark had risen as much as 0.7% in early trading, supported by strength in technology and financial stocks, but the gains failed to hold. Technology stocks remained in focus as mainland Chinese investors continued to shift funds into Hong Kong-listed AI and technology names, including Alibaba, Tencent and MiniMax. Meanwhile, Shein Global Holdings dropped 8.7% on its third day of trading in Hong Kong, extending its weak post-listing performance. Investors also remained cautious ahead of key US employment data due Friday, which could provide further clues on the Federal Reserve’s interest-rate outlook. Lower oil prices and softer bond yields provided some support to regional markets, but concerns surrounding global growth and geopolitical risks continued to weigh on sentiment.
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Hong Kong Stocks Rebound on Rate Hopes
The Hang Seng Index rose 0.6%, or 150 points, to 25,459 on Thursday, tracking gains across Asian markets as a pause in the global bond selloff eased concerns over tighter monetary policy. The rebound followed a weaker-than-expected US private-sector jobs report and comments from New York Fed President John Williams that suggested there was no immediate need for further rate hikes. Meanwhile, President Donald Trump said renewed US attacks on Iran would likely be short-lived, helping ease concerns over a prolonged Middle East conflict, while lower oil prices provided some relief over inflation and energy-cost pressures. Technology and financial stocks also gained, supporting the broader market. Shein also remained under pressure, with shares falling more than 5% on Wednesday to HK$46 on their second day of Hong Kong trading. Notable gainers included Tencent (0.4%), Lenovo (1.1%), MiniMax (1.0%), Akeso (3.0%), AIA (1.8%).
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