Hong Kong Stocks Edge Higher Ahead of Central Bank Meetings; Keymed Biosciences Falls

MT Newswires Live07-28 16:53

Hong Kong stocks closed higher on Tuesday as investors await key central bank meetings and earnings from major U.S. technology companies.

The Hang Seng Index gained 103.67 points, or 0.4%, to close at 25,310.85, while the Hang Seng China Enterprises Index rose 70.87 points, or 0.9%, to 8,436.25.

Hong Kong technology shares were a little resilient as compared to regional peers even as renewed concerns over artificial intelligence spending triggered another selloff in global chipmakers and weighed on broader Asian markets.

Sentiment also drew support from optimism over China's semiconductor industry after CXMT Corp.'s Shanghai debut and reports of China's progress in domestic immersion DUV lithography technology.

Among individual stocks, Keymed Biosciences (HKG:2162) fell nearly 6% after reporting that its global phase 3 trial of CMG901, conducted with AstraZeneca, met its primary endpoint in patients with CLDN18.2-positive advanced gastric cancer.

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