STOCKS | Hong Kong Stocks Rebound as Hang Seng Index Rises

Hong Kong stocks experienced a rebound, with the Hang Seng Index climbing by nearly 490 points at its peak, reaching 25,736 points. According to RTHK, the index closed at 25,462 points at midday, marking an increase of 212 points or 0.8%. The main board's half-day turnover was close to 164.2 billion HKD. Biotechnology and pharmaceutical stocks performed well, with CSPC Pharmaceutical Group rising nearly 6% and Hansoh Pharmaceutical Group increasing by over 3%. Major financial stocks also saw gains, with HSBC Holdings and AIA Group both rising by over 3% to nearly 4%. Local real estate and utility stocks moved upward, with Wharf Real Estate Investment Company gaining nearly 4% and Hang Lung Properties rising by almost 3%. Both Power Assets Holdings and CK Infrastructure Holdings increased by over 2%. Oil stocks showed mixed results, with PetroChina gaining about 2%, while CNOOC dropped by over 1%. Technology stocks also had varied performances, with Alibaba Group and Meituan falling by over 1% to nearly 2%, whereas Xiaomi Corporation rose by nearly 2%. The technology index closed nearly flat at 4,829 points.