Exclamation “Ho!” With fist pump?

I saw a piano performance by a music student from China. The audience was a mixed group of young Chinese/Koreans. When he took his bow at the end his Chinese/Korean friends in the audience shouted “Ho!” And put their fists in the air. He responded the same. “Ho!” While bowing with the fist in the air in front of him like a victory fist pump.

What is this? I want to learn more about it.

I posted in r/Korea and: it’s not Korean, may be

1) hao 好 2) Cantonese

Thanks!

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