The Hang Seng Index rose 0.2 per cent to 25,674.25 as of 10.56am local time, on track for its highest close since November 16, 2021. The Hang Seng Tech Index gained 0.1 per cent.
On the mainland, the CSI 300 Index climbed 0.7 per cent and the Shanghai Composite Index added 0.3 per cent.
Tencent, the second-biggest weighting on the Hang Seng Index, gained 1 per cent to HK$592. Semiconductor Manufacturing International advanced 3.8 per cent to HK$54.05 and Anta Sports Products added 2.9 per cent to HK$92.60.
“Hong Kong stocks still have upside room,” said Yan Zhaojun, an analyst at Zhongtai Securities. “Expectations for corporate earnings are stable. Earnings for the upstream industries will be revised upward because of China’s move to cut excessive capacities in the anti-involution campaign.”
