18.09.202602:09:21UTC+00Hong Kong Stocks Rise as Oil Slips, Tech Leads

The Hang Seng Index climbed 0.9%, or about 214 points, to around 24,819 on Friday, as easing oil prices and softer US Treasury yields lifted market sentiment. This improvement came after the Federal Reserve raised its benchmark interest rate by 25 basis points to 3.75%-4.00% and signaled the possibility of an additional increase later this year. Brent crude slipped below $104 per barrel after a third consecutive decline, helping to temper concerns over inflation and rising borrowing costs. Wall Street’s strong rebound overnight, with both the S&P 500 and the Nasdaq gaining more than 1%, further supported risk appetite across Asian markets. In Hong Kong, technology stocks led the advance, mirroring the tech-driven rally in the US. Notable gainers included Z.AI Co. (up 4.5%), Tencent (0.7%), Lenovo (2.7%), MiniMax (7.3%), and SMIC (2.4%). Investors remained focused on developments in the Middle East and the outlook for further US monetary tightening, while also turning their attention to next week’s planned meeting between President Trump and President Xi.