Stocks in Hong Kong climbed 266 points, or 1.0%, to 25,478 in Monday’s morning session, snapping a six-session losing streak and recovering from a five-week low. All sectors supported the upturn as traders engaged in bargain hunting, particularly in property, financials, and tech shares. A rise in U.S. futures also lifted risk appetite, following Friday’s strength on Wall Street after New York Fed President John Williams signaled a possible third rate cut this year amid weakness in the labor market. Further support came from Premier Li Qiang’s remarks that China’s curbs on critical minerals are a balancing of security and cooperation. Gains were capped, however, by caution ahead of China’s industrial profits data later this week and Hong Kong’s October trade figures due Tuesday. Pharma names like Innovent Biologics (4.0%), Hansoh Pharma (3.0%), and Akeso Inc. (2.7%) were among early performers. Other gainers included CK Hutchison (3.3%), Kuaishou Tech. (2.8%), and Xiaomi Corp. (1.5%).
