Hong Kong equities closed the week of May 4 to May 8 on a firmer footing, as a powerful rally in technology and internet stocks pushed the Hang Seng Index to its highest level in nine weeks before profit-taking slowed momentum toward the end of the trading period.
Investor sentiment improved sharply during the early-to-mid part of the week, with Hong Kong shares outperforming regional peers on renewed optimism surrounding growth and technology counters. By Thursday, the Hang Seng Index had climbed 412.5 points, or 1.57%, to 26,626, while the Hang Seng Tech Index surged 3.06% to 5,121.
Trading activity also remained robust, with turnover reaching HK$312.49 billion, reflecting strong investor participation as funds rotated back into higher-growth names.
Technology giants led the charge throughout the week. Alibaba Group, Tencent Holdings, Baidu and Kuaishou emerged among the strongest performers as investors increased exposure to internet and artificial intelligence-related plays.
In contrast, energy counters lagged behind amid weaker oil sentiment. PetroChina and CNOOC both recorded sharp declines during the week, highlighting the growing divide between defensive commodity-linked stocks and higher-growth technology counters.
Despite the strong rebound, late-week caution emerged as geopolitical concerns and profit-taking activity tempered the market’s advance. Investors remained watchful of broader global developments, particularly surrounding trade tensions and macroeconomic signals from the US and China.
Still, the overall tone for the week remained constructive, with Hong Kong’s market benefiting from improving risk appetite and renewed confidence in the region’s technology sector after weeks of uneven trading momentum.
