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Hang Seng rises 1% for a second day as tech stocks boost sentiment
The Hang Seng settled at 24,280, while oil prices fell after increased Persian Gulf exports and a Saudi price cut, signaling loosening supply conditions.
The Hang Seng Index extended its winning streak to a second day on October 6, rising 1% to close at 24,280. LiveMint Markets said the advance was supported by strong gains in technology stocks even as rate-sensitive property and financial stocks remained under pressure.
The outlet linked the tone in Hong Kong to a tech-led rally on Wall Street, where the S&P 500 gained 0.7% on Monday, the Dow Jones Industrial Average rose 0.2%, and the Nasdaq Composite climbed 1.1% to an all-time closing high.
LiveMint Markets also pointed to deal activity tied to artificial intelligence investments as a factor for regional sentiment. It cited reporting that OpenAI was in talks with multiple investment funds from the United Arab Emirates to anchor a $30 billion round of financing, with DeepSeek and Moonshot AI also raising billions.
Separately, oil prices declined following increased Persian Gulf exports and a Saudi price reduction, a move the outlet framed as evidence of market loosening.
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