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Hong Kong Stocks Rise on Thursday; Tsaker New Energy Soars

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Hong Kong stocks closed higher on Thursday as investors looked ahead to next week's U.S. Federal Reserve meeting and welcomed a new agreement between Malaysian and Hong Kong regulators to strengthen cross-border capital market access.

The Hang Seng Index gained 318.15 points, or 1.3%, to close at 25,210.81, while the Hang Seng China Enterprises Index rose 101.60 points, or 1.2%, to 8,352.67.

Markets were supported by news that Malaysian and Hong Kong securities regulators signed a memorandum of understanding to facilitate dual IPO listings and expand the range of investment products eligible under their mutual recognition of funds framework.

Investors also awaited next week's Federal Reserve policy decision, with the central bank widely expected to leave interest rates unchanged, though markets continue to anticipate the possibility of a rate hike later this year.

Technology stocks across Asia gained after Alphabet raised its capital spending plans and Tesla maintained its AI investment outlook, easing concerns over AI infrastructure demand.

Among individual stocks, Tsaker New Energy Tech (HKG:1986) surged more than 20% after forecasting a sharp increase in first-half attributable profit.

Keymed Biosciences (HKG:2162) gained over 2% after its experimental drug CM512 received breakthrough therapy designation in China for treating chronic rhinosinusitis with nasal polyps.

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