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The Hang Seng Index rose 0.4 per cent to 25,001.64 as of 10.12am local time. The Hang Seng Tech Index was little changed. On the mainland, the CSI 300 Index climbed less than 0.1 per cent and the Shanghai Composite Index added 0.1 per cent.
Sunny Optical Technology Group gained 3.5 per cent to HK$76.90 and ZTO Express advanced 3.4 per cent to HK$161.90. Alibaba Group Holding added 1.7 per cent to HK$118.70 and Meituan rose 0.3 per cent to HK$121.50.
Investors are focused on strong corporate earnings from large tech companies and believe that the impact of US President Donald Trump’s tariffs on the global economy will be manageable. While some data on the labour market is weakening, traders are ramping up bets that the Fed will reduce borrowing costs to sustain growth.
Traders are also waiting for China’s release of key July economic data to assess whether its faster-than-estimated economic growth in the first half will continue through the year. Figures on foreign trade are also due on Thursday, with exports estimated to rise 5.6 per cent year on year.
Other major Asian markets were mixed. Japan’s Nikkei 225 climbed 0.8 per cent, while South Korea’s Kospi rose 0.6 per cent and Australia’s S&P/ASX 200 lost 0.1 per cent.
