Hong Kong shares close higher on tech gains

Hong Kong stocks ended higher on Monday, mainly driven by tech gains.

The benchmark Hang Seng Index rose 98 points, or 0.42 percent, to 23,393 points, with a full-day turnover of HK$204.8 billion.

The Hang Seng Tech Index jumped 2.25 percent to 3,839 points.

Xiaomi (1810) surged the most among blue chips, up 6.1 percent, followed by the 6 percent growth in CATL (3750).

Tech heavyweights lifted the overall market, with Alibaba (9988) and Tencent (0700) advancing 2.5 percent and 2.2 percent, respectively.

Chipmakers also gained. Hua Hong Grace Semiconductor (1347) rose nearly 3 percent, while Semiconductor Manufacturing International Cooperation (0981) increased 1.5 percent.

Notably, casino operators climbed despite a decline in Macao's October gaming revenue. Galaxy Entertainment (0027) jumped 3.7 percent, while Sands China (1928) gained 3.1 percent.

In contrast, major banks broadly dropped after posting results last week. BOC Hong Kong (2388) and Bank of China (3988) fell 5.7 percent and 4.6 percent, marking the two worst performances among HSI constituents.

China Merchants Bank (3968) and Industrial and Commercial Bank of China (1398) slipped 2.8 percent and 1.5 percent.

In the mainland, the Shanghai Stock Exchange Composite Index increased 1.08 percent to 3,638 points, and the Shenzhen Stock Exchange Component Index went up 1.63 percent to 11,010 points.

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