Tech gains, oil price falls lift HK, mainland markets
Hong Kong and mainland stocks closed higher on Tuesday, led by AI supply chain shares, as an overnight rally on Wall Street and sliding oil prices lifted risk sentiment across Asia. The benchmark Hang Seng Index closed 108 points, or 0.4 percent, higher at 24,557 on turnover of HK$178.17 billion. The tech index rose 43 points, or 1.1 percent, to 4,084 while the China enterprises index crept five points, or 0.1 percent, up to 8,265. Optical communication giant Zhongji Innolight jumped nine percent while Wuxi AppTec rose up to five percent before paring gains after the Pentagon removed the biotechnology company from its list of Chinese military companies. Mainland chip firms Suzhou Denglin Technology and Jiangsu Xinde Semiconductor Technology made mixed trading debuts after raising a combined HK$2.36 billion in initial public offerings. AI chip designer Suzhou Denglin ended HK$18, or 7.79 percent, down at HK$213 while semiconductor packager and tester Jiangsu Xinde was HK$2.52, or 28 percent, up at HK$11.40. On the mainland, the benchmark Shanghai Composite Index inched up just under three points, or 0.08 percent, to end at 3,663. The Shenzhen Component Index was 96 points, or 0.86 percent, higher at 11,241 while the ChiNext Index was 35 points, or 1.46 percent, up at...
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