Analyst recaps Asian stock markets' performance on Monday

China

Analyst recaps Asian stock markets' performance on Monday

2025-07-21 19:28 Last Updated At：22:27

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.

ROK president calls for learning lesson from anti-aggression history

The Republic of Korea (ROK) and China should cherish the historical experience of jointly resisting aggression and continue to work together for a prosperous future, said ROK President Lee Jae Myung.

At the invitation of Chinese President Xi Jinping, Lee will pay a state visit to China from Jan 4 to 7. It will be Lee's first visit to China since he took office last year.

In an interview with China Media Group (CMG) in Seoul on Wednesday, Lee said that humanity must learn from the past to prevent the tragedy of war from repeating itself.

"While pursuing their own national interests to the fullest extent, countries must not harm the national interests of others, but should coexist peacefully. The act of invading other countries and massacring their people for one's own benefit must never be repeated. History of humanity often repeats itself, therefore we must learn from the past. In this regard, I believe the historical experience of ROK and China in resisting aggression and fighting together is invaluable. Of course, while historical experience is important, we cannot remain stuck in the past. For a better future for the people of both countries, we need to continuously explore possibilities for working together towards the future," said the president.