HK Stocks Start Week With Gains

The Hong Kong markets rebounded from heavy losses last week, rising 1.5 percent on Monday as attention turns to this week's US presidential election.

The Hang Seng Index rose 1.5 percent, or 352 points, to 24,460 on turnover of more than HK$116 billion.

Carmaker Geely Automobile was the top-gainer on the index, surging by over 13 percent.

On its debut on the local bourse, shares of data centre developer and operator GDS Holdings rose 3 percent above its offer price to reach HK$84 a share before closing at HK$83. The Shanghai-based company – which is also listed in New York – raised close to HK$13 billion in its Hong Kong offering.

Markets across the border have also inched up, helped by a new private survey showing Beijing's factory activity expanded at its fastest pace in a decade.

The Shanghai Composite Index edged up marginally to 3,225 and the blue-chip CSI-300 index rose around half a percent.

Elsewhere in the region, Seoul had its best day in over two months, surging almost 1.5 percent amid strong domestic export data.

The Nikkei in Japan jumped more than 1 percent on upbeat domestic earnings, while Taiwan and Singapore also reported gains.

As for commodities, oil prices fell more than 3 percent on worries that widening coronavirus lockdowns across Europe would weaken fuel demand.