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Hong Kong Stocks Close Higher; WebX Slides on Listing Compliance Ruling

MT Newswires Live
Nov 03

Hong Kong stocks closed higher Tuesday, with the broader market advancing despite continued weakness in technology shares amid concerns over AI investment costs and earnings outlooks.

The Hang Seng Index rose 132.65 points, or 0.6%, to close at 23,525.97, while the Hang Seng China Enterprises Index gained 36.99 points, or 0.5%, to finish at 7,943.10.

Technology shares weakened across Asia as investors questioned the sustainability of the AI investment cycle.

Oil prices stabilized after the previous session's decline, with Brent crude rising 0.5% to $105.30 a barrel as investors assessed the outlook for U.S.-Iran peace talks.

Investors also looked ahead to U.S. midterm elections and the Treasury's quarterly refunding announcement.

In corporate news, WebX (HKG:0339) closed over 54% lower after the Hong Kong Stock Exchange ruled that it failed to meet the requirements for continued listing.

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