Expectations of a resumption soon in U.S. interest rate cuts bolstered Asian stocks on Monday, said a market analyst.
Hong Kong Hang Seng Index increased 1.94 percent to close at 25,829.91 points.
The Hang Seng China Enterprises Index rose 1.85 percent to end at 9,248 points, and the Hang Seng Tech Index went up 3.14 percent to end at 5,825.09 points.
Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, gained 174.53 points or 0.41 percent to 42,807.82 points.
Timothy Pope, a market analyst, recapped stock markets' performance of Hong Kong and Japan on Monday.
"We had the Hang Seng touch a 4-year high, closing the session 1.9 percent higher. Tech stocks there were very much in favor too, a big source of energy behind the Hang Seng. The Hang Seng Tech Index was up more than 3 percent," he said.
"Over in Tokyo, we saw the Nikkei 225 rising a bit more cautiously than the rest of the region. It was following Wall Street's lead, as Japan often does on a Monday. It ended the session 0.4 percent higher on a mix of hopes and anxieties. Firstly of course there's more optimism that the U.S. Federal Reserve will cut interest rates in September after Fed Chair Jerome Powell's comments at Jackson Hole last week. Tech stocks, which are a bit more rates-sensitive than most, were up pretty strongly today including the Nikkei's chip sector heavyweights like Advantest which was up 3.5 percent," he added.
Analyst recaps Asian stock markets' performance on Monday
The Chinese Embassy in South Africa on Monday held an event in Pretoria, the country's administrative capital, to celebrate the launch of the 2026 China-Africa Year of People-to-People Exchanges.
This year also marks the 70th anniversary of the establishment of diplomatic relations between China and African countries.
Chinese Ambassador to South Africa Wu Peng said that over the past seven decades, under the joint guidance of leaders from both sides, China-Africa people-to-people and cultural exchanges have continued to expand, yielding fruitful outcomes.
Noting that the world is undergoing profound changes unseen in a century, Wu said China and Africa need to uphold fairness and justice, strengthen solidarity and mutual assistance, and enhance exchanges and cooperation more than ever before.
Taking the launch of the China-Africa Year of People-to-people Exchanges as an opportunity, Wu called for upholding the original aspiration of friendship, solidifying the foundation of cooperation, enhancing two-way efforts, and accelerating the building of an all-weather China-Africa community with a shared future for the new era.
Mmapaseka Steve Letsike, South Africa's deputy minister of women, youth, and persons with disabilities, said South Africa and China enjoy strong and historic bonds of friendship as close international cooperation partners in the political, economic, social, technical and multilateral domains.
"The significance of people-to-people is really about how we elevate the people's life to a just and equitable stance that we want to see. We want a better Africa; we want a better world. And that for us is significant," said Letsike.
"Through people-to-people exchanges, we promote mutual understanding, and that is the basis of building mutual trust, building peaceful coexistence. People-to-people exchange is a very important instrument for peace and mutual understanding," said Bongani Maimele, director of international relations with South Africa's National School of Government.
The opening ceremony of the 2026 China-Africa Year of People-to-People Exchanges was held at the African Union headquarters on Jan 8. According to the Chinese Foreign Ministry, the two sides will jointly host nearly 600 cultural and people-to-people exchange activities in 2026 to enhance exchanges and mutual learning between the two civilizations, and promote mutual understanding and connection between the peoples.
Organizing the 2026 China-Africa Year of People-to-People Exchanges is an important consensus reached by leaders from both sides at the Forum on China-Africa Cooperation Beijing Summit in 2024.
Chinese Embassy in South Africa unveils 2026 China-Africa Year of People-to-People Exchanges
