Hong Kong's stock market (HKEX) opened the fourth quarter on a bullish note, with key indices closing sharply higher on Thursday.
The benchmark Hang Seng Index surged more than 1.6 percent, reaching its highest level in more than four years.
The index extended gains throughout the session, climbing nearly 500 points at one stage during the afternoon. It closed at 27,287.12 points, its highest level since July 2021.
The Hang Seng Tech Index also outperformed with a gain of over 3 percent.
Stocks in companies in the precious metals sector were among the biggest gainers as international gold prices continued setting new records.
Shares in Zijin Gold International, which debuted on the Hong Kong Exchange this week, closed up 14 percent.
In the technology sector, Alibaba maintained its recent upward trend, closing over 3 percent higher.
BOCOM International, a major Chinese banking and financial services group, said in a report published on Thursday that Hong Kong's "slow bull" market could continue, citing strong demand from mainland investors for quality assets such as AI-related stocks.
The report noted that with improving external conditions, market risk appetite has been steadily recovering, as investors take heart from resumed China-US trade talks and expectations for overseas interest rate cuts.
China's stable and consistent macroeconomic policies, along with ample "pro-growth" policy tools, are also supporting Hong Kong stocks, the report said.
Hong Kong stocks kick off Q4 with strong gains
