Hong Kong Stocks Rally 2.99% as U.S. June Payroll Data Falls Below Expectations

According to Galaxy Securities report, Hong Kong's stock market rebounded in the week of June 29–July 3, with the Hang Seng Index rising 2.99%, Hang Seng Tech Index up 5.72%, and Hang Seng China Enterprises Index gaining 3.20%. The rally was supported by softer-than-expected U.S. June non-farm employment data, which showed only 57,000 jobs added—the lowest in four months—potentially easing Federal Reserve rate-hike expectations and alleviating liquidity pressure on Hong Kong stocks. SK Hynix is scheduled to list on Nasdaq on July 10, a potential catalyst for related Hong Kong semiconductor industry supply chain stocks including CPU chips, server manufacturers, and liquid cooling solutions.
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