Hong Kong's equities surged 253 points or 1.2% to 21,389 on Monday morning deals, marking the third session of gains and holding their highest in three months. Optimism toward China's tech sector continued to boost sentiment following the sudden emergence of low-cost AI model DeepSeek. At the same time, concerns over deflation risks in the mainland eased after consumer inflation hit a five-month top of 0.5% in January, topping consensus of 0.4%. Gains were broad-based, with top movers from tech, consumers, and financials. Further increases were tempered by news that President Trump will announce a 25% levy on steel and aluminum later today. Separately, Fed Chair Powell is scheduled to deliver his congressional testimony, as officials signal they're not in a hurry to ease further policy. Among large-cap stocks, Meituan and China Unicom each climbed 3.1%, while Alibaba Health Intl. (3.7%), Zhejiang Leapmotor Tech. (3.5%), and Kingdee Intl. Software (2.4%) also posted strong advances.(Cay) Newsmaker23
Source: Trading economi
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