Hang Seng closes higher as tech stocks rebound 124 points
Published on 10/16/2026 at 13:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSTechnology rebound lifts shares
- Hang Seng closed at 24,187 points on October 16, up 124 points or 0.5 percent.
- The Hang Seng Tech Index rose 1.2 percent as Nvidia's CEO reassured markets about CoreWeave's finances.
- Lenovo led blue-chip gainers, rising 8.0 percent.
- HKEX markets reopen October 20 at 9:30 a.m. HKT after the October 19 holiday.
The Hang Seng closed at 24,187 points on October 16, gaining 124 points or 0.5 percent. Technology shares rebounded after reassurance from Nvidia's chief executive about CoreWeave's finances, Borsa Italiana reported.
Lenovo rose 8.0 percent after Nvidia highlighted its enterprise partnerships and the company began global deliveries of Nvidia's Vera Rubin AI systems. Longfor gained 6.2 percent and China Resources Land advanced 3.3 percent, The Standard reported.
Why did the Hang Seng rise?
The index opened at 24,321 points, or 1.1 percent higher, according to China Daily Asia. It climbed to 24,353 points by noon before the gain narrowed into the close.
The Hang Seng Tech Index rose 1.2 percent. Investors also bought property, pharmaceutical and gold shares, while banking and coal stocks weakened, Futu News reported.
Lenovo leads the Hang Seng rebound
Lenovo was the strongest blue-chip performer after its 14.5 percent fall on October 15. Kuaishou rose 2.5 percent after releasing its Kling 4.0 video-generation model, while Alibaba gained 2.3 percent, The Standard reported.
Market breadth was positive, with 1,463 Hong Kong stocks advancing and 883 declining. Total turnover reached HKD 178.2 billion, according to Futu News.
What comes next for the Hang Seng
Hong Kong markets will close on October 19 for the Chung Yeung Festival and reopen on October 20 at 9:30 a.m. HKT. HKEX confirmed the holiday schedule.
