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Cao Li

Hong Kong stocks rose on Tuesday as global investors broadened their focus beyond US markets, fuelling gains across Asian equities, while the yuan advanced to its strongest level against the US dollar since May 2023.
The Hang Seng Index closed 0.9 per cent up at 26,848.47 after earlier gaining more than 2 per cent to 27,143 – its highest since last November. The Hang Seng Tech Index was little changed after advancing more than 2.4 per cent in the morning.
On the mainland, the CSI 300 Index and the Shanghai Composite Index similarly closed around 0.6 per cent down after surrendering early gains.
Chinese pharmaceutical and healthcare shares led the rally. WuXi AppTec, Asia’s largest provider of contract pharmaceutical research, climbed 8.3 per cent to HK$120. Wuxi Biologics rose 5.9 per cent to HK$39.78, while Alibaba Group advanced 3.6 per cent to HK$159.90.
Limiting the gains, Tingyi Cayman Islands Holding, which manufactures popular instant noodle Kang Shi Fu, fell 4.3 per cent to HK$11.91. Chinese property management firm China Resources Mixc Lifestyle Services lost 3.3 per cent to HK$44.90 and toymaker Pop Mart International dropped 2.9 per cent to HK$191.30.

“The Hong Kong market has been largely driven by moves in mainland A shares,” said Kenny Ng Lai-yin, a strategist at Everbright Securities International. “A rebound in some tech names such as Alibaba [Group Holding] has also lifted the index.”
Trading volume on the Shanghai and Shenzhen exchanges hit a record 3.58 trillion yuan (US$510 billion) on Monday, surpassing the previous high of 3.43 trillion yuan on October 8 last year. Trading volume on the Hong Kong stock exchange on the same day surpassed HK$300 billion (US$38.4 billion), the first time since last November.
Asian shares climbed to a near record on Tuesday morning as tensions between the US and Iran escalated and investors sought to diversify beyond the US markets.
The yuan rose to its highest level in nearly three years as the US dollar weakened after the White House increased its criticism of the Federal Reserve. The yuan’s offshore spot rate reached 6.97 against the US dollar.
Two stocks debuted on the Hong Kong stock exchange on Tuesday. Chinese chip designer GigaDevice Semiconductor closed 37.5 per cent up at HK$222.80. Mainland frozen food warehousing service provider Hongxing Coldchain (Hunan) earlier surged nearly 60 per cent to HK$19.58 before closing flat at HK$12.30.
Elsewhere in the Asia-Pacific region, Japan’s Nikkei 225 rose 3.1 per cent, South Korea’s Kospi gained 1.5 per cent and Australia’s S&P/ASX 200 advanced 0.6 per cent.


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Hang Seng Index advances as investors shift focus, boosting Asian equities, with pharmaceutical and healthcare shares leading gainers


Hang Seng Index advances as investors shift focus, boosting Asian equities, with pharmaceutical and healthcare shares leading gainers.


Hong Kong stocks climb as yuan strengthens and investors broaden focus beyond US

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Hang Seng Index advances as investors shift focus, boosting Asian equities, with pharmaceutical and healthcare shares leading gainers

Hang Seng Index advances as investors shift focus, boosting Asian equities, with pharmaceutical and healthcare shares leading gainers