Hong Kong stocks rose 98 points, or 0.4%, to 24,607 in early trading on Monday, ending a four-day losing streak amid gains led by the property and technology sectors. Sentiment improved after China's top leaders pledged to support the economy and tackle "irregular competition" at last week's Politburo meeting.
Beijing also confirmed plans to hold its fourth plenary session in October, which will likely focus on the next five-year plan. A modest rebound in US stock futures added support, following Wall Street's sharp decline on Friday due to weak employment data. On tariffs, US Treasury Secretary Scott Bessent expressed optimism, saying the US and China have the "potential to reach a deal" after recent talks in Stockholm.
However, further gains were tempered by caution ahead of the upcoming July services PMI from a private survey and China's July trade figures, due later this week. The first to enter this sector were Zhaojin Mining Industry (7.1%), Lenovo Group (2.6%), SMIC (2.9%), and Sun Hung Kai Properties (2.0%). (alg)
Source: Trading Economics
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