Hong Kong shares rose 52 points or 0.2% to 25,468 in Monday morning trade, gaining for the second session as U.S. futures inched up after weak U.S. labor data boosted expectations of rate cuts this month.
Mainland markets advanced further after weekend data showed China's forex reserves in August hit their highest since December 2015, helped by a weaker dollar, while the central bank continued to build gold holdings. Gains were led by consumer and tech stocks as property and financials lagged.
Sentiment was capped by caution ahead of China's August trade data due later today, with markets bracing for declines in exports and imports amid global trade frictions and subdued domestic demand.
Locally, Typhoon Signal No. 8 remained in effect until at least 11 a.m., disrupting activity in the city. Duality Biotherapeutics surged 13% to a record on its inclusion in the Stock Connect program, while pharma names Wuxi Biologics (2.8%), Hansoh Pharma (2.3%), and CSPC Pharma (1.6%) also gained.
Source: Trading Economics
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