Hong Kong Stocks Rise on Monday as Crude Pullback Calms Rate Fears; Auntea Jenny Surges on Profit Alert

MT Newswires Live07-27

Hong Kong stocks closed higher on Monday as falling oil prices eased inflation concerns after the U.S. and Iran refrained from further military action.

The Hang Seng Index gained 243.95 points, or about 1%, to close at 25,207.18, while the Hang Seng China Enterprises Index rose 94.32 points, or 1.1%, to 8,365.38.

Oil prices fell more than $5 easing inflation concerns and mitigating expectations of a U.S. Federal Reserve rate hike ahead of Wednesday's policy decision. Investors also awaited earnings from major technology companies following recent scrutiny of AI-related spending.

Among individual stocks, Auntea Jenny (HKG:2589) climbed more than 4% after forecasting up to a 60% increase in first-half profit.

Trip.com (HKG:9961) gained over 3% after disclosing that it would comply with Chinese regulators' decision following a penalty for abusing its dominant position in the country's online hotel booking market.

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