08.09.202502:22:44UTC+00Hong Kong Stocks Edge Higher to Start the Week

Hong Kong's stock market experienced an uptick of 52 points, or 0.2%, reaching 25,468 in Monday's morning session. This marks the second session of gains, bolstered by an increase in U.S. futures following weak U.S. labor statistics that heightened expectations for interest rate cuts this month. Meanwhile, China's mainland markets also saw progress after weekend reports highlighted that the nation's foreign exchange reserves in August achieved their highest level since December 2015. This rise was supported by a weaker dollar and continued gold acquisitions by the central bank. The upswing was primarily driven by consumer and technology stock performances, although property and financial sectors lagged. However, investor sentiment remained cautious as the markets awaited the release of China's trade data for August, expecting a dip in both exports and imports due to ongoing global trade tensions and muted domestic demand. In Hong Kong, activities were further disrupted as Typhoon Signal No. 8 remained active until at least 11 a.m. Among notable gainers, Duality Biotherapeutics soared 13% to an all-time high following its inclusion in the Stock Connect program, while pharmaceutical companies Wuxi Biologics, Hansoh Pharma, and CSPC Pharma posted increases of 2.8%, 2.3%, and 1.6%, respectively.