Hong Kong's stock market ended higher on Monday with the benchmark Hang Seng Index up 0.68 percent to close at 24,994.14 points.
The Hang Seng China Enterprises Index rose 0.6 percent to end at 9,040.20 points, and the Hang Seng Tech Index gained 0.84 percent to 5,678.34 points
The Japan markets were closed Monday for a public holiday.
Timothy Pope, a market analyst, recapped stock markets' performance of Hong Kong on Monday as follows:
Hong Kong markets rose today as the Hang Seng up almost 0.7 percent. Tech stocks were at the forefront of those gains, with food delivery giant Meituan up 2.8 percent, and Alibaba up 1.8 percent after both companies were apparently called in to meet with government officials at the weekend and asked to cool it on the food delivery price war they've embarked on in recent weeks.
Also not sustainable were Chinese biotech company gains. We saw those pared a little today after those stocks shot up last week.
And Geely Auto stocks were also in reverse, shedding more than 2 percent today after an investigation by the China Securities Journal which accused Geely's premium EV brand, Zeekr, of inflating its sales data using a pretty convoluted collision insurance scheme. This enabled the automakers to record the cars as sold, in some cases before they'd even arrived in a dealer showroom, let alone been seen by a customer. This circles back to price wars again, and the huge pressure that they've put on companies to generate sales and grab market share, and it's one of the unhealthy incentives those price wars generate. And it's not good for stocks either. This report dragged down other EV makers as well, [as] Li Auto was among the Hang Seng's biggest losers today.
Analyst recaps Asian stock markets' performance on Monday
The United States cannot legitimize an operation that attacked Venezuela and captured its president, a Chinese scholar said Sunday.
On Saturday, the United States launched a large-scale strike on Venezuela, during which Venezuelan President Nicolas Maduro and his wife were 'captured and flown out of Venezuela' according to a post by U.S. President Donald Trump on his Truth Social account.
Teng Jianqun, director of the Center for Diplomatic Studies at Hunan Normal University, said in an interview with China Global Television Network (CGTN) that the aim of this operation is to take full control of Venezuela’s natural resources.
"I don't think the United States can legitimize this operation to take custody of the president of Venezuela. And also I don't think the United States can legitimize its any action in taking the oil reserves of that country. This is actually a very dangerous game played by the Trump administration. And of course, the United States would like to take full control of that country and to take full control of the natural resources, especially the large reserve of oil in Venezuela," said Teng.
Teng said Venezuela is not an isolated case but a common practice by the United States. The United States launched an invasion of Panama on Dec. 20, 1989, which continued until January 1990, with the stated objective of capturing Panamanian strongman Manuel Noriega on charges of drug trafficking and organized crime.
"We still remember the so-called sentence of the former president of Panama in the late 1980s. And this time, the president of Venezuela will be under some judicial condition (judicial proceedings) for the so-called drug trafficking and some other crimes. So I think this is not a single case for the Venezuela country, but also this is actually a practice by the United States -- to use force, to use so-called justice under law against any leaders in Latin America and the Caribbean waters," he said.
US cannot legitimize operation against Venezuela: Chinese scholar
