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The Hang Seng Index rose 0.2 per cent to 25,333.90 as of 10.15am local time. The Hang Seng Tech Index gained 1.3 per cent. On the mainland, the CSI 300 Index climbed 0.9 per cent and the Shanghai Composite Index added 0.7 per cent.
E-commerce giant JD.com rallied 4.2 per cent to HK$125.90 and online games operator NetEase also jumped 4.2 per cent to HK$208.60. Hansoh Pharmaceutical Group rose 1.9 per cent to HK$38 before its earnings release later today.
Corporate results are in the spotlight as the earnings season is in full swing. Twenty-three companies on the Hang Seng Index have disclosed interim results, with profit growth averaging 11 per cent versus 17 per cent for the preceding six-month period, according to Bloomberg data.
The call for more stimulus measures from Beijing has also grown louder after official data last week showed that China’s growth weakened in July.
Powell’s speech on Friday will shed more light on the quantum of US rate cuts to prevent the jobs market from cooling further. Traders have priced in a more than 80 per cent chance of a quarter-point reduction next month.
