Hong Kong stocks stand firm with a 1pc gain

Hong Kong stocks stabilized in the afternoon with a full-day gain of 1 percent on Monday, as investors are pricing in the hopes for an easing of US-China trade tensions.

The benchmark Hang Seng Index hit the day’s high of 26,495 in the morning, before paring some gains to 26,433 by the end of Monday, up 1.05 percent. The growth is similar to that in the morning.

The full-day main board turnover rebounded to HK$267.1 billion.

The tech gauge advanced further by 1.8 percent to 6,171. Alibaba (9988) gained 3.15 percent, and Xiaomi (1810) also saw the fall narrow to 0.26 percent.

Baidu (9888) jumped 6.2 percent, the best-performing bluechip and tech gauge component.

HSBC (0005) declined 1 percent on the US$1.1 billion provision for the Madoff case.

Meanwhile, the Shanghai Composite Index rose further by 1.18 percent to 3,996 points, one step closer to the 4,000-point bar and reaching a fresh over 10-year high. The Shenzhen Component Index added 1.51 percent to 13,489 points.