Hong Kong stocks started the week with gains on elevated expectations from $236 billion in government funding to shore up capital markets in the country.
According to the Swiss investment bank UBS, Beijing's plan to inject capital into its stock markets, amid escalating tensions with the US, could see $236.2 billion in inflows from insurers, mutual funds, and social-security funds.
The Hang Seng Index rose 0.66%, or 131.58 points, to close at 20,197.77 on Monday. The Hang Seng China Enterprises Index rose 0.97%, or 70.65 points, to end at 7,382.81.
In corporate news, Shenzhen Expressway (HKG:0548, SHA:600548) generated a toll revenue of 994.5 million yuan in December 2024. The shares of the company closed over 7% lower on Monday.
Wanka Online's (HKG:1762) affiliated entity Huanju Times Culture Media (Beijing) agreed to dispose of its 49% equity interest in Hainan Kunchuang Technology to Lingshui Digital Culture Industry Cloud Technology Development for a capital injection of 49 million yuan, propelling the company's shares to close nearly 7% higher.
PuraPharm (HKG:1498) closed 6% higher, as it revised the timetable for its proposed capital reduction and subdivision of unissued shares to Feb. 24.