In a dazzling display of resilience, Hong Kong stocks closed on a high note on August 29, riding the wave of enthusiasm from a tech-fueled surge on Wall Street.

The Hang Seng Index saw a healthy uptick of about 0.5%, propelled primarily by technology shares, which took the lead amidst the positive momentum. Investor optimism soared as US stocks reached new record highs, despite Nvidia’s earnings slightly missing expectations. This scenario only served to underscore the robust demand for artificial intelligence infrastructure, a sector that continues to attract significant interest.

Market analysts believe that hopes of potential interest rate cuts in the US are adding to the optimism. Traders are keenly awaiting critical economic data from the States, including the Personal Consumption Expenditures (PCE) inflation index, jobs report, and consumer price figures. These pivotal indicators are anticipated to play a crucial role in shaping the Federal Reserve's upcoming policy decisions in September.