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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 0.3 per cent to 26,308.4 as of 9.45am, the Hang Seng Tech Index rose 0.7 per cent. On the mainland, the CSI 300 Index was little changed and the Shanghai Composite Index rose 0.2 per cent.
Chinese delivery giant Meituan led the tech share gains by rallying 4.2 per cent to HK$102.60. Kuaishou Technology, the short-video platform operator, rose 4 per cent to HK$77.65 and CSPC Pharmaceutical Group climbed 2.3 per cent to HK$9.39.
Limiting the gains, carmaker Geely Automobile Holdings fell 3 per cent to HK$16.68. Lenovo Group dropped 2.6 per cent to HK$68.20 and Ping An Insurance Group fell 2.7 per cent to HK$16.73.
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.
Elsewhere in Asia-Pacific, the Nikkei 225 gained 1.6 per cent, South Korea’s Kospi increased 1.2 per cent and Australia’s S&P/ASX 200 grew 0.3 per cent.
