Hong Kong Stocks gained momentum on Monday after a phone call between Chinese President Xi Jinping and US president-elect Donald Trump came out with encouraging reports from both sides.

China's state news agency Xinhua quoted President Xi as saying that the US could be "good friends and partners" while president-elect Donald Trump described the call as a "very good one" on his social media.

The Hang Seng Index rose 1.75%, or 341.75 points, to close at 19,925.81 on Friday. The Hang Seng China Enterprises Index rose 1.79%, or 126.90 points, to end at 7,235.71.

China on Monday kept the benchmark lending rates unchanged, with the one-year loan prime rate at 3.1% and the five-year LPR at 3.6%, according to the People's Bank of China.

China's central state-owned enterprises achieved steady profit growth to 2.6 trillion yuan in 2024, Xinhua News reported Jan. 17, citing data from the state-owned Assets Supervision and Administration Commission. Total assets of central SOEs rose 5.9% year over year to more than 90 trillion yuan. Central SOEs' fixed-asset investment, including real estate, went up 3.9% to 5.3 trillion yuan.

In corporate news, Ubtech Robotics (HKG:9880) shares rose over 10% on Monday's close as the company engaged Yunnan International Trust as the trustee to manage its scheme to repurchase H shares on the market for its share incentive scheme.

OSL Group's (HKG:0863) stocks closed 10% lower on Monday despite it acquiring an 81.38% stake in CoinBest K.K. through its subsidiary OSL Investment (Japan) from four independent third parties.

Wan Kei Group (HKG:1718) is proposing a one-for-one rights issue at a subscription price of HK$0.2 apiece to raise gross proceeds of around HK$23 million. The shares of the company closed over 5% higher on Monday.