Hong Kong's Hang Seng index jumped 294 points (1.4%) to close at 20,892 on Thursday, recovering from the previous session's losses.
Hang Seng rebounds, tech sector leads
The rebound was fueled by positive US futures, following two consecutive days of gains on Wall Street. The market revisited levels near a two-month high, driven by growing optimism surrounding China's AI sector after a breakthrough by startup DeepSeek. The tech index led the charge, climbing 2.6% with strong gains from Sunny Optical Tech., Semiconductor Manufacturing, and Hua Hong Semiconductor. BYD Co. soared nearly 20% on plans for an intelligent strategy launch event next week, showcasing advanced intelligent driving technology. Consumer and property sectors also performed well, rising 1.9% and 1.7%, respectively.
Hong Kong awaits key economic data
Market gains were tempered by anticipation of Friday's US non-farm payroll data and China's upcoming January CPI and PPI releases next week. Other significant gainers included Geely Auto, Wuxi Biologics, SenseTime Group, and KE Holdings.
