Hong Kong Stocks Rise on Monday on Tech, Biotech Gains; Trigiant Jumps 47%

MT Newswires Live

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Hong Kong stocks closed higher Monday as gains in technology and biotech shares lifted the market despite weakness across broader Asian markets amid concerns over rising oil prices.

The Hang Seng Index rose 111.97 points, or 0.5%, to close at 24,917.60, while the Hang Seng China Enterprises Index gained 38.25 points, or 0.5%, to 8,284.58.

The Hang Seng Biotech Index jumped 3.8%, while the HKEX Tech 100 Index gained 0.6%.

Investor sentiment remained cautious as higher oil prices raised concerns over supply disruptions in the Middle East, while markets braced for possible U.S. and Japanese interest rate hikes this week. Investors also watched the planned Sept. 24 meeting between Chinese President Xi Jinping and U.S. President Donald Trump.

Among individual stocks, Trigiant Group (HKG:1300) surged more than 47% after winning a bid to acquire Qinghai Zhongli Optical Fibre Technology for 455 million yuan.

InSilico Medicine (HKG:3696) gained more than 3% as Chairman and CEO Aleksandrs Zavoronkovs bought an additional 113,500 shares using personal funds.

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