On July 16, South China Hang Seng Tech ETF rose 3.06% in regular trading, trading at HKD 4.788/share, with turnover of HKD 2.64 billion. The rally was driven by overnight US inflation data confirming a slowdown, which pushed US equities higher and weakened the dollar.
Specifically, the US 10-year Treasury yield declined to the 4.55% level, improving global risk appetite and spilling over into Hong Kong markets. The Hang Seng Tech Index expanded gains to over 2%, with internet stocks rallying broadly — Alibaba, Bilibili, and Kuaishou rose over 4%, Baidu and XPeng gained over 3%, while Tencent, JD.com, and Meituan advanced over 2%. As an ETF tracking the Hang Seng Tech Index, South China Hang Seng Tech moved in tandem with its underlying constituents.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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