Hong Kong stocks rose 93 points, or 0.4%, to 26,480 in early trade on Monday, marking gains for the second session.
Sentiment was supported by a modest rise in U.S. futures ahead of the Fed’s policy meeting later this week, where the central bank is widely expected to cut rates by 25bps, though some traders are betting on a deeper half-point reduction amid cooling labor markets and mild inflation.
Meanwhile, U.S.-China trade talks in Madrid entered their second day, signaling an intensification of diplomacy between the two.
Gains were led by tech and consumer names.
However, the upside was capped by weak data from China, showing industrial production growth at its slowest in a year, retail sales growing the least in eight months, and the jobless rate rising to a six-month high.
On the corporate front, Pop Mart Intl. tumbled 7.5% after JPMorgan cut its rating to “neutral” from “overweight,” citing stretched valuations, while other major losers included KE Holdings (-3.8%) and Akeso Inc.
