Hong Kong stocks rose alongside other markets in Asia, as sentiment towards global risk assets stabilised and the victory of Japan’s ruling party in the parliamentary election boosted risk appetite.

The Hang Seng Index rose 1.8%, while the Hang Seng Tech Index climbed 1.6%.

In terms of star stocks, Knowledge Atlas up 37%; MiniMax up 12%; GigaDevice up 11%; Pop Mart up 6%; Zijin Gold Mining up 5%; Tencent, Alibaba up 2%.

The Dow Jones Industrial Average rose to a record on Friday, marking a rotation into cyclical stocks after a sell-off in technology stocks spurred by a meltdown in the commodity market. Japan’s Nikkei 225 surged more than 5 per cent to a record on Monday after Prime Minister Sanae Takaichi’s Liberal Democratic Party secured a historic election triumph. The result cleared the way for more fiscal stimulus, reinforcing a bullish outlook for stocks.