
Tech and property gains propel HK stocks opening
Tech and property gains propel HK stocks opening
The Hang Seng Index opened up 174 points, or 0.74 percent at 23,828. File photo: RTHK
The Hang Seng Index opened up 174 points, or 0.74 percent, on Thursday, at 23,828 amid a strong opening for technology and property development plays.
Mainland stocks also opened higher, with the benchmark Shanghai Composite Index up 0.06 percent to open at 3,378.
The Shenzhen Component Index opened 0.08 percent higher at 10,152 points. (Xinhua)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


RTHK
2 hours ago
- RTHK
HK to include renminbi counters in Southbound Connect
HK to include renminbi counters in Southbound Connect Finance chief Paul Chan says the city will accelerate the inclusion of renminbi counters in the city's Southbound Stock Connect scheme. Photo: RTHK Sun Yu, vice chairman and chief executive of Bank of China (Hong Kong), says Hong Kong is gradually transitioning from an offshore renminbi payment centre to a renminbi financing hub. Photo: RTHK Kenneth Hui, executive director (external) of the Hong Kong Monetary Authority (HKMA), says the use of renminbi has increased rapidly in recent years thanks to the rising cross-border trade. Photo: RTHK Financial Secretary Paul Chan on Friday reiterated that Hong Kong is speeding up the inclusion of renminbi counters in the Southbound Stock Connect programme as part of efforts to attract more renminbi funds while pushing ahead the internationalisation of the currency. The remarks came in a keynote speech Chan delivered at the Bank of China RMB Internationalisation Forum 2025, where he noted that such developments are not aimed at challenging the status of other international currencies. "The internationalisation of the renminbi has never been aimed at challenging or replacing the status of other currencies. Therefore, it is unnecessary for some people to view it with a zero-sum game mindset," he told participants. "Hong Kong is a testing ground for the country's high-level financial opening-up, the city also serves as a firewall," he said. The finance chief said the city will make good use of its unique advantages linking domestic markets with the world to seize on the opportunities brought by economic and trade cooperation between the country and Asean, the Middle East and the Belt and Road countries. The SAR government, he added, will also continue to promote the internationalisation of the renminbi by increasing the liquidity of offshore renminbi, increasing the issuance of renminbi bonds, speeding up the inclusion of renminbi counters in the Southbound Connect under the Stock Connect programmes, as well as improving connectivity with the mainland's rapid payment system to facilitate capital flows. Echoing Chan, Sun Yu, vice chairman and chief executive of Bank of China (Hong Kong), noted that the SAR is gradually transitioning from an offshore renminbi payment centre to a renminbi financing hub, due to surging interest. "The variety of renminbi products in Hong Kong is gradually increasing, and the related financial infrastructure and supporting facilities are also becoming more and more developed," Sun said. "This has attracted more international investors, numerous multilateral institutions, and non-bank financial institutions to express their interest and allocation needs for renminbi assets. It also reflects that Hong Kong is evolving from an offshore renminbi payment centre into a renminbi financing centre, investment centre, as well as risk management centre." Sun also said that as global financial markets have become more volatile in recent times, Hong Kong can play a significant role to help fend off financial risks by leveraging its mature financial markets as well as regulatory strengths. Separately, Kenneth Hui, executive director (external) of the Hong Kong Monetary Authority, noted that renminbi bonds issued in the SAR exceeded 1 trillion yuan last year, which was more than the overall deposits in the city. He added that the use of the renminbi has increased rapidly in recent years thanks to rising cross-border trade, and that the proportion of renminbi used in the mainland's global trade has doubled over the past three years to 30 percent, as the renminbi trade settlement processed by banks in the SAR increased to 15 trillion yuan last year from 7 trillion in 2021.


RTHK
3 hours ago
- RTHK
Hang Seng Index ends day on a weak note
Hang Seng Index ends day on a weak note The Hang Seng Index ended trading for the day down 114 points at 23,792. File photo: AFP Hong Kong and mainland Chinese stocks ended slightly lower on Friday, as investors remained cautious after a call between President Xi Jinping and his US counterpart, Donald Trump, failed to provide clear signals of progress in easing trade tensions. Trump and Xi confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday, leaving key issues unresolved for future talks. "If you look at the conversation between the Chinese and US presidents, there's nothing concrete that's positive. So little impact on stocks," said Guo Jianwen, partner at Shanghai-based hedge fund Haiyi Capital. In Hong Kong, the benchmark Hang Seng Index ended trading for the day down 114.43 points, or 0.48 percent, at 23,792.54. The Hang Seng China Enterprises Index fell 0.63 percent to end at 8,629.75 while the Hang Seng Tech Index fell 0.63 percent to end at 5,286.52. Across the border, the blue-chip CSI300 Index fell 0.1 percent. The benchmark Shanghai Composite Index ended up 0.04 percent at 3,385.36, while the Shenzhen Component Index closed 0.19 percent lower at 10,183.70. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 0.45 percent to close at 2,039.43. For the holiday-shortened week, the CSI 300 Index gained nearly 1 percent, while the Hang Seng Index rose 2.2 percent. (Agencies)


RTHK
4 hours ago
- RTHK
Youths 'can bridge AI gap between Global South, North'
Youths 'can bridge AI gap between Global South, North' Boao Forum for Asia secretary general Zhang Jun, right, says artificial intelligence development gaps will fuel further digital divisions. Photo: RTHK Participants at the forum at the Convention and Exhibition Centre said access and skills for youths and young entrepreneurs posed challenges for their economies. Photo: RTHK Boao Forum for Asia secretary general Zhang Jun said on Friday youths play a key role in bridging the artificial intelligence development gap between the Global South and Global North. He made the remarks as the International Science, Technology and Innovation Forum of the Boao Forum made its debut in Hong Kong, with previous editions held in Macau, Zhuhai and Guangzhou. Speaking at a roundtable session, Zhang, who served as a permanent representative of China to the United Nations, said the digital divide, which includes AI development gaps, will further weigh on global fragmentation. He called on youths to help forge global collaboration to tackle such challenges. "Youths have a key role... in really trust-building, partnership-building, which is also badly needed in today's world, because we are more divided than [at any time] after the end of the Second World War. "And we are living in a world which is becoming very much dangerous because of the failure of the international governance system, including the United Nations," Zhang said. Many of the forum's participants pointed out challenges encountered during their countries' own digital transformation, especially with access and skills for youths and young entrepreneurs. Many said it's essential to ramp up digital literacy training and partnerships between nations. Mimala Chanthasone, an official of the Institute of Foreign Affairs in Laos, cited the China-Laos AI Innovation Cooperation Centre as an example. Launched in February, she said the centre marks the first China-Asean AI innovation cooperation. Conrad Ho, a member of the Youth Development Commission, called for more efforts to be made to address the employability gap created by the emergence of AI technology. "The post-AI world presents many challenges and also opportunities, including how youth might gain more senior-level skills as AI reduces the demand for entry-level and middle-management roles," he said. "I think as AI unlocks more capacity, we're going to transition from [having more] large corporations to smaller ventures, one-person teams, smaller teams that can still create very massive value. "And yet for all these companies, for them to be successful, the founders still need to have the critical hard and soft skills that they need to learn." The two-day innovation forum ends on Saturday.