Hong Kong stocks rebound as concerns ease over lock-up expiries

Hong Kong stocks rebound as concerns ease over lock-up expiries The Hang Seng Index rises by 2.4 per cent as technology stocks lead gains despite renewed tension in the Middle East The Hang Seng Index rose 2.4 per cent to 24,057 at the noon break, with technology shares leading broad-based gains despite renewed geopolitical tensions in the Middle East. The Hang Seng Tech Index outpaced the broader market, surging 4.3 per cent. At the centre of the rally was Knowledge Atlas Technology, also known as Zhipu AI, which surged 18 per cent even as the market digested the company’s first major lock-up expiry following its Hong Kong listing earlier this year. While the unlocking of the equity initially sparked fears of a sell-off, the expected oversupply was smoothly absorbed after several cornerstone investors reaffirmed their holding commitments the day prior.