Hong Kong Stocks Rally As Hang Seng Hits Multi-Year High
The HSI advanced from around 24,280 on July 14 to close at 24,825.66 on July 18, marking a robust 2.2% weekly gain. The rally mirrored upbeat sentiment in regional markets, as the MSCI Asia-Pacific ex-Japan index also hit a multi-year high, buoyed by strong US economic data and positive corporate earnings.
All sectors contributed to the advance, with Chinese blue-chip stocks leading gains. Investors shrugged off lingering tariff concerns and focused on improving macro signals from the US and China.
The Hong Kong Exchanges and Clearing (HKEX) also announced major infrastructure updates, including a proposal to shorten the equities settlement cycle from T+2 to T+1, aiming for implementation by 2027. This move aligns with global financial hubs and aims to reduce systemic risks.
HKEX also launched a 30-year RMB interest rate swap under Northbound Swap Connect and introduced a new order routing service on its Integrated Fund Platform, reinforcing Hong Kong's position as a key cross-border financial centre.
Outlook: With momentum building and HIS at a multi-year high, investors are eyeing this week's US macroeconomic data and developments in China's property sector for further direction. Analysts remain cautiously optimistic but note that volatility could return on shifting global trade and interest rate dynamics. Related
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Malay Mail
2 hours ago
- Malay Mail
HKSTP Takes Nine Game-Changing AI Tech Ventures to WAIC 2025 to Advance China's AI Plus Vision in Transforming Business and Industry
HKSTP is embarking on a mission to advance China's AI Plus vision with nine Hong Kong AI park companies at the WAIC 2025. Hong Kong Space Robotics and Energy Centre Limited (HKSRE ) is an InnoHK R&D centre focuses on aerospace technology R&D to foster international collaboration for the Chang'e-8 mission. It brings together institutions from local and overseas to jointly develop the mission's Hong Kong-operated robot—a multifunctional lunar surface operations and mobile charging system. ) is an InnoHK R&D centre focuses on aerospace technology R&D to foster international collaboration for the Chang'e-8 mission. It brings together institutions from local and overseas to jointly develop the mission's Hong Kong-operated robot—a multifunctional lunar surface operations and mobile charging system. Centre for Artificial Intelligence and Robotics ( CAIR ) Hong Kong Institute of Science & Innovation Chinese Academy of Sciences is another InnoHK R&D centre, showcases MicroNeuro, the world's first flexible robotic system for minimally invasive neurosurgery to address challenges of fragile brain tissue and confined spaces, surpassing human surgical limits. ( ) is another InnoHK R&D centre, showcases MicroNeuro, the world's first flexible robotic system for minimally invasive neurosurgery to address challenges of fragile brain tissue and confined spaces, surpassing human surgical limits. Digital Domain, a global leader in Hollywood visual effects and AI virtual human technologies, showcases the AI-powered video creation solution "HANBAO" and "AI DOMAIN", an all-in-one content creation platform, empowering creators to tailor high-quality short videos for online platforms. Digital Domain has set up its state-of-the-art R&D centre in Hong Kong, driving the innovative development among entertainment and cross-industry. Centre for Artificial Intelligence and Robotics, Hong Kong Institute of Science & Innovation, Chinese Academy of Sciences (CAIR) ClusterTech Limited Digital Domain Hong Kong Centre for Cerebro-cardiovascular Health Engineering (COCHE) HK INBOT TECHNOLOGY LIMITED Hong Kong Space Robotics and Energy Centre Limited MattVerse Limited Metapool Technology Limited Ultipa Hong Kong Limited HONG KONG SAR / SHANGHAI, CHINA - Media OutReach Newswire - 27 July 2025 - Hong Kong Science and Technology Parks Corporation (HKSTP) is embarking on a mission to advance China's AI Plus vision with nine Hong Kong AI park companies at the World AI Conference & High-Level Meeting on Global AI Governance (WAIC) 2025, taking place from July 26-29 in Shanghai, China. In collaboration with the Hong Kong Trade Development Council and Cyberport, HKSTP is leveraging Hong Kong's growing global AI innovation hub status to advance the China's strategic AI initiative and applying AI and big data to transform old and new industry sectors to boost a new era of growth."Hong Kong is a crucible for world-class AI innovation and our unique HKSTP ecosystem provides an ideal platform to empower AI tech firms with global fluency and pave the way for global expansion. By taking local tech companies on a global growth journey and attracting more international startups to land Hong Kong and integrating into the Mainland China or even the Asia markets means a growing critical mass of world-class AI innovators is created. This influx of global talent and technology will accelerate the country's high-tech industry and economic development, further fueling the national drive for new quality productive forces."The nine park enterprises participating in the Hong Kong Pavilion cover technologies in life and health tech, fintech, entertainment, aerospace tech, digital education and more, highlights included:In addition to the showcase of tech firms, HKSTP also hosted a provoking panel discussion at WAIC 2025, exploring the theme of: "From Hong Kong to global impact: Shaping the future with AI and New Quality Productive Forces for Cross-industry Growth", moderated by Ms Pheona Kan, Director of Business Development at HKSTP with the fellow scientists and experts from the discussion highlighted how Hong Kong has a unique role in global AI development by uniting international talent and technology behind the city's AI vision which also aligns with China's vision to transform industry through quality productive the largest I&T ecosystem in Hong Kong, HKSTP is home to over 500 AI startups, including home-grown unicorns that are shaping the future of artificial intelligence. In alignment with Hong Kong's bold vision for technological leadership, the HKSTP San Tin Technopole Campus—a 20-hectare site within the soon-to-be-built San Tin Technopole—will serve as a critical catalyst for the city's next wave of innovation. Strategically located in the heart of the Northern Metropolis, the Campus is poised to become a flagship landmark for AI+ and beyond, aiming to promote its widespread development and application across year, WAIC 2025, themed "Global Solidarity in the AI Era," will bring together top scientists, global leaders, entrepreneurs, policymakers, and innovators in the AI participation at WAIC 2025 is a testament to Hong Kong's role as a bridge between Chinese and global innovators, fostering collaboration and exchange of ideas, technologies, and governance #HKSTP The issuer is solely responsible for the content of this announcement. About Hong Kong Science and Technology Parks Corporation Hong Kong Science and Technology Parks Corporation (HKSTP) was established in 2001 to create a thriving I&T ecosystem grooming 13 unicorns, more than 15,000 research professionals and over 2,300 technology companies from 26 countries and regions focused on developing healthtech, AI and robotics, fintech and smart city technologies, etc. Our growing innovation ecosystem offers comprehensive support to attract and nurture talent, accelerate and commercialise innovation for technology ventures, with the I&T journey built around our key locations of Hong Kong Science Park in Pak Shek Kok, InnoCentre in Kowloon Tong and three modern InnoParks in Tai Po, Tseung Kwan O and Yuen Long realising a vision of new industrialisation for Hong Kong, where sectors including advanced manufacturing, micro-electronics and biotechnology are being reimagined. Hong Kong Science Park Shenzhen Branch in Futian, Shenzhen plays positive roles in connecting the world and the mainland with our proximity, strengthening cross-border exchange to bring advantages in attracting global talent and allowing possibilities for the development of technology companies in seven key areas: Medtech, big data and AI, robotics, new materials, microelectronics, fintech and sustainability, with both dry and wet laboratories, co-working space, conference and exhibition facilities, and more. Through our R&D infrastructure, startup support and enterprise services, commercialisation and investment expertise, partnership networks and talent traction, HKSTP continues to contribute in establishing I&T as a pillar of growth for Hong Kong. More information about HKSTP is available at
The Star
7 hours ago
- The Star
Indonesia's first high-speed railway is now transforming inbound travel and driving economic growth
JAKARTA (Xinhua): Since the launch of commercial operations in October 2023, the Jakarta-Bandung High-Speed Railway, locally known as Whoosh, has ushered in a new era of modern transportation for Indonesia. As South-East Asia's first high-speed rail system, Whoosh connects Jakarta, Indonesia's largest city, with Bandung in West Java, drastically reducing travel time from over three hours to just 46 minutes. This leap in mobility has delivered more than just faster commutes. It has redefined the travel experience for millions of Indonesians and brought new momentum to economic activity along the railway corridor. ECONOMIC BENEFITS According to PT Kereta Cepat Indonesia China (KCIC), the Indonesian-Chinese railway joint venture has safely carried over 10.6 million passengers on 31,614 trips as of July 25, covering more than 4.9 million kilometers since its commercial operations began. With up to 62 daily train services and a peak daily ridership of 26,800, public enthusiasm continues to rise. For Sophia, a 37-year-old mother of two who commutes between Jakarta and Bandung every weekend, the benefits are deeply personal. "Whoosh has become a proper mode of transportation. Time is valuable; we shouldn't have to spend so much of it on the road," she said. Beyond convenience, Whoosh has also triggered notable economic benefits. Business owners like 45-year-old Akhyar, who runs a cake shop near Bandung's train station, have witnessed a sharp rise in customers, many of whom are tourists brought in by the high-speed service. Similarly, the Indonesian Travel Agent Association reported growing demand for group tours using Whoosh, especially among students and corporate travelers. "It helps promote Jakarta as a tourist destination, especially for ASEAN visitors," said the association's Chairwoman, Pauline Suharno, using the acronym for the Association of Southeast Asian Nations. "Among ASEAN countries, only Indonesia has a high-speed train." According to Segara Research Institute Executive Director Piter Abdullah, Whoosh is not only a game changer for mobility, but a catalyst for new economic activity. "Mobility is a driver of the economy. The growing number of passengers shows that people are increasingly recognizing the value of time efficiency and travel comfort. High-speed rail can trigger the emergence of new economic centers," he said. This project represents a crucial first step in developing rail-based transportation across Java Island, unlocking new zones of productivity and investment, he added. ENHANCED CONNECTIVITY The areas surrounding Whoosh's stations, such as Tegalluar, Padalarang, and Karawang, are already seeing the rise of new residential communities, commercial centers, and upgraded infrastructure. Halim Station, near Jakarta's international airport, is evolving into a critical intermodal hub, supporting seamless air-rail connectivity. "Whoosh has significantly enhanced regional connectivity and land value," said KCIC's Corporate Communications Manager Emir Monti. "It's also generated thousands of jobs and supported the growth of a full high-speed rail industry chain in Indonesia." Emir believed that Whoosh is not just a transport upgrade, but a strategic leap in Indonesia's development. "We didn't expect such a high level of enthusiasm at the beginning. But Whoosh has truly improved connectivity between Jakarta and Bandung and brought real convenience to the public," he said. He also emphasized the project's role as a model for international collaboration and local capacity building. "This isn't just about importing equipment; it's about building an integrated system. Through our joint venture with Chinese partners, we've transferred technology, trained local talent, and developed Indonesian professionals in operations, maintenance, and management," he said. Today, all train drivers and mechanics are Indonesians, a testament to the project's commitment to localization and sustainability. "From technology to management, our local teams are growing through hands-on experience," said Emir. "Whoosh didn't just bring infrastructure. It built a foundation for future Indonesian expertise." GROWING EXPECTATION According to Dwiyana Slamet Riyadi, president director of KCIC, Whoosh is the first full-scale application of Chinese high-speed rail technology abroad, making Indonesia the first country outside China to operate trains at a speed of 350 kilometers per hour. "Chinese high-speed rail technology is truly advanced. They're already developing trains that can reach 450 kilometers per hour. So I think it's natural that China is the technological benchmark for Indonesia's high-speed rail development," he said. He also noted that Indonesia's success with Whoosh has drawn attention from other Southeast Asian nations eager to replicate its achievement. "Indonesia is now seen as a model for high-speed rail development in ASEAN," he said. As demand continues to climb and public satisfaction remains high, expectations are rising. German expatriate Ali Kurtze, a long-time Jakarta resident and self-proclaimed loyal Whoosh rider, expressed hope for further expansion. "Fast, punctual, comfortable, I love this route. I hope the high-speed rail will one day extend to Surabaya or even Sumatra," said Kurtze. "That would completely transform Indonesia's transportation landscape." -- Xinhua
The Star
8 hours ago
- The Star
US Treasury chief says trade talks with China to continue this week in Sweden
US Treasury Secretary Scott Bessent has said that he would meet his Chinese counterparts in Sweden this week to continue trade talks between the two countries, suggesting the current pause in sky-high tariffs aimed at each other could be extended. Bessent told Fox Business that he would speak with Chinese officials on Monday and Tuesday for a third round of high-level talks in Stockholm – following face-to-face discussions he held with Chinese Vice Premier He Lifeng in Geneva and London – to work out a likely extension of the pause beyond mid-August. Beijing has yet to confirm the Stockholm talks, but Swedish Prime Minister Ulf Kristersson said in a post on X on Tuesday that his country would play host to the US-China negotiations next week. After US President Donald Trump's announcement of 'reciprocal' tariffs on April 2, Washington and Beijing raised punitive levies on each other's exports to triple-digit percentage levels. Since then, trade relations have thawed somewhat as the countries have engaged in talks, marked by a June telephone call between Trump and Chinese President Xi Jinping. On Monday Bessent said that the talks were 'in a good place', a sanguine take on negotiations echoed by Beijing's embassy in Washington, which said 'new progress' had been made in resolving each other's economic and trade concerns. Separately on Tuesday, Trump told reporters that Xi has invited him to visit Beijing and that he would accept. He added that exports of rare earth and magnets to the US may no longer be a thorny issue. 'President Xi has invited me to China, and we'll probably be doing that in the not too distant future, a little bit out, but not too distant. And I've been invited by a lot of people, and we'll make those decisions pretty soon,' he said during a meeting in the Oval Office with Philippine President Ferdinand Marcos Jnr. 'We have a very good relationship. In fact, the magnets, which is a little complex piece of material, but the magnets are coming out very well. They're sending them in record numbers. We're getting along with China very well,' said Trump. In a possible signal of improving ties, China's market administration watchdog said earlier on Tuesday that it had suspended its anti-trust probe into American multinational chemical company DuPont. Beijing launched its investigation into DuPont in early April, after Trump began slapping new levies on Chinese goods. Bessent said on Monday that he hoped to raise in future talks the issue of China's purchases of Russian and Iranian oil. Beijing's embassy in Washington responded to those comments by saying that 'the international community, including China, has conducted normal cooperation with Iran and Russia within the framework of international law. 'This is reasonable and lawful without harm done to any third party, and deserves to be respected and protected,' said the embassy. China observers said that Beijing would oppose Washington's bid to link tariff talks to Chinese relations with US adversaries. 'Beijing sees its ties and transactions with Russia and Iran as just and fair and conforms to international laws and may be unlikely to make compromises for the sake of US lowering tariffs,' said Xin Qiang, an international studies professor at Fudan University in Shanghai. 'Beijing is mindful not to fall into the trap as US uses tariffs to pursue its geopolitical agenda.' During the Fox Business interview Bessent also mentioned his expectations for China's government to rein in manufacturing overcapacity and launch structural adjustments to stimulate domestic consumption to benefit American manufacturing. 'President Trump is remaking the US into a manufacturing economy. If we could do that together – more U.S. manufacturing, more Chinese consumption – that would be a home run for the Chinese Communist Party and the global economy,' he said. - SOUTH CHINA MORNING POST
