2025.09.0108:26:31UTC+00Strong China PMI Boosts Hang Seng Over 500 Points

On Monday, the Hang Seng index experienced a notable rise of 540 points, or 2.2%, closing at 25,617. This marks its most significant single-day increase since August 13 and signifies a second consecutive day of growth, driven by widespread advances across various sectors. Consumer stocks led the surge with a roughly 3% jump, closely followed by notable gains in technology and real estate sectors. Investor sentiment was bolstered by positive private survey data for August, indicating renewed manufacturing output growth and strong new orders in China. Additionally, mainland stock markets recorded their third consecutive session of gains, as abundant liquidity continued to pursue higher returns. However, the upward momentum was somewhat tempered by mixed signals from U.S. futures, following a Court of Appeals decision to rule many of Trump’s tariffs illegal while maintaining them in effect until at least mid-October. It's also worth noting that Wall Street remains closed today due to a holiday. In other market movements, Alibaba's shares soared by 18.5% on optimism regarding its cloud services. Pharmaceutical stocks also saw significant upswings, with Innovent Biologics rising by 8.2%, Wuxi Biologics by 7.2%, and Sino Biopharma by 6.2%, driven by faster drug approvals, positive company guidance, and promising AI-driven biotech developments.