Hong Kong stocks closed higher on Monday, tracking a firmer tone in Asian markets, with technology shares leading gains and a higher risk appetite among investors as oil prices flatlined.

The benchmark Hang Seng Index ended up 319 points, or 1.24 percent, at 26,095.

The China enterprises index was 92 points, or 1.07 percent, at 8,774 while the tech index was up 105 points, or 2.16 percent, at 4,976.

Market turnover hit nearly HK$177 billion, with top percentage gainers Xiaomi up HK$1.96, or 6.75 percent, at HK$30.98, Xinyi Solar up 16 cents, or 5.59 percent, at HK$3.02 and Henderson Land up HK$1.52, or 4.94 percent, at HK$32.30.

The top three percentage losers were Galaxy Entertainment, ⁠which fell 94 cents, or 2.83 percent, to HK$32.22, PetroChina, which slid 33 cents, or 2.74 percent, to HK$11.70, and CNOOC, down 76 cents, or 2.59 percent, to HK$28.62.

MGM China fell 3.77 percent, leading a slide in Macao gaming shares after the hub posted a 5.5 percent rise in April gambling revenue, slowing from a 15 percent jump in March revenue.

Top gainers ⁠among H-shares were KE Holdings, which advanced 6.62 percent, and Alibaba which climbed 4.52 percent.

The three biggest H-shares percentage decliners were PetroChina, CNOOC, and Pop Mart, down by 0.95 percent.

The sub-index of the Hang Seng index tracking energy shares eased 1.7 percent while the IT sector climbed 2.3 percent.

Mainland financial markets remain closed for the Labour Day holidays and will resume on Wednesday.

In Seoul, the benchmark Kospi ended up 338 points, or 5.12 percent, at 6,936 in the biggest daily percentage rise since April 8 as chipmakers rallied on artificial intelligence optimism fuelled by upbeat data and US earnings.

South Korean financial markets will be closed on Tuesday for another holiday. (Reuters)


Edited by Tony Sabine