HSI rises over 580 points to above 25,000 mark

Hong Kong shares advanced over 580 points at the close on Monday, as fresh purchases of Chinese equities from state investors boosted market sentiment.

The benchmark Hang Seng Index rose by 580 points, or 2.36 percent, to 25,143, with a full-day turnover of HK$306.4 billion.

The Hang Seng Tech Index also jumped by 2.79 percent to 4,752 points. 

Tech heavyweights climbed, with Alibaba (9988) and Tencent (0700) rising 3.7 and 3.5 percent, respectively.

Oil majors outperformed the market. CNOOC (0883) surged the most among blue chips, up 5 percent, while PetroChina (0857) advanced 4 percent.

Chipmaker Semiconductor Manufacturing International Cooperation (0981) and Hua Hong Grace Semiconductor (1347) both lifted by 3 percent.

In contrast, Chinese artificial intelligence startup Knowledge Atlas Technology (2513), or Zhipu AI, plunged nearly 20 percent, and MiniMax (0100) also dived 10 percent to a new low, after its rival Moonshot unveiled the world's largest open AI model, Kimi K3.

In the mainland, the Shanghai Stock Exchange Composite Index inched up 0.85 percent to 3,796 points, and the Shenzhen Stock Exchange Component Index went down 0.71 percent to 13,610 points.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓