SHANGHAI – Hong Kong shares rose on Monday after US Federal Reserve chief Jerome Powell struck a dovish tone at the central bank’s Jackson Hole economic conference.

The Hang Seng index rose 0.5 percent to 25,539.54, while the China Enterprises Index gained 0.4 percent to 8,995.82.

Powell signalled the central bank will remain patient as it tries to nurse the economy back to full employment and gave no new clues on the start of bond-buying taper.

The energy sub-index gained 2.7 percent, after China’s Sinopec Corp reported its highest first-half net profit since 2018 and unveiled plans to spend 30 billion yuan (US$4.6 billion) on hydrogen energy by 2025.

Geely Automobile Holdings Ltd rose 4.3 percent, after its electric vehicle brand Zeekr said on Friday it raised $500 million in its first external funding.

The Hang Seng Tech Index gained 1.1 percent. Tech giants Meituan and Alibaba Group both went up 1.5 percent, while Tencent Holdings edged down 0.1 percent.

The industrial sub-index and the healthcare sub-index finished higher 3 percent and 2.8 percent, respectively.

The Hang Seng Finance Index was down 0.7 percent.