Good day, traders!
What you need to know: Asian equity markets opened on a positive note on Tuesday morning as overnight gains on Wall Street and constructive US-China negotiations on artificial intelligence and bilateral trade boosted investor confidence across the region.
The Hang Seng Index rose 0.33 per cent to 25,125.02 points as of 9.45am local time, supported by gains in technology heavyweights following a strong session on Wall Street where tech momentum continued to drive risk appetite.
Across broader regional markets, equity indices displayed a constructive tone in early morning trading, benefiting from stabilized sentiment around global technology supply chains and diplomatic progress between the world's two largest economies.
Technology and e-commerce leaders spearheaded Hong Kong's morning advances. E-commerce giant Alibaba Group Holding advanced 1.78 per cent to HK$114.50, search engine operator Baidu gained 2.41 per cent to HK$91.15, and short-video provider Kuaishou Technology added 1.62 per cent to HK$31.32. Computer maker Lenovo Group advanced 1.29 per cent to HK$36.20, while blind-box toymaker Pop Mart International Group edged up 0.13 per cent to HK$155.30. On-demand delivery provider Meituan traded flat at HK$74.00, and consumer electronics major Xiaomi slumped 0.87 per cent to HK$27.34.
In electric vehicles, Li Auto fell 0.88 per cent to HK$45.08. Energy and resource producers faced selling pressure; offshore oil producer CNOOC slumped 1.58 per cent to HK$23.56, PetroChina slid 1.74 per cent to HK$9.35, and aluminium producer China Hongqiao Group retreated 1.20 per cent to HK$21.40. Property major China Resources Land slumped 0.07 per cent to HK$29.16, online travel agency Trip.com Group dropped 1.61 per cent to HK$317.80, sportswear manufacturer Li Ning declined 0.78 per cent to HK$12.71, and power tool maker Techtronic Industries lost 0.54 per cent to HK$128.50.
