The Hang Seng Index surged 387 points, or 1.6%, to close at 24,590 on Tuesday (July 15), rising for a fourth straight session and reaching its highest level in nearly four months. The index rebounded from an initial decline as all sectors advanced, led by strong performance in technology and consumer stocks.
The technology index surged 2.8%, driven by solid gains in Kuaishou Technology (3.8%), Meituan (3.5%), and Tencent Holdings (2.3%), after Nvidia expressed hope of soon resuming sales of its H20 general-purpose chip to China. Consumer, property, and financial stocks also rose, as concerns eased over the impact of US tariffs on the Chinese economy.
Official data showed China's GDP grew 5.2% year-on-year in Q2 2025, slightly above the 5.1% forecast, although marking the slowest pace in three quarters. Expectations are also growing that the upcoming Politburo meeting in July could provide new policy support to sustain growth. Other companies that recorded significant increases included Sino Biopharmaceutical (4.8%), China Tower Corp. (3.9%), and Techtronic Industries (3.7%). (alg)
Source: Trading Economics
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