24.06.202602:04:16UTC+00Hong Kong Stocks Gain on Bargain Hunting

The Hang Seng Index edged up 0.2% to 23,370 on Wednesday, snapping a five-session losing streak as bargain hunters stepped in following the benchmark’s recent underperformance. Risk appetite improved amid signs of progress in US–Iran peace talks, which eased worries over potential disruptions to global energy supplies. A pullback in oil prices further alleviated inflation concerns and supported demand for risk assets across markets.

Sentiment was also bolstered by continued enthusiasm for artificial intelligence and semiconductor-related plays. Interest in AI exposure remained strong after a leveraged ETF tied to SK Hynix became Hong Kong’s largest ETF by assets. Still, upside was limited by persistent caution over the trajectory of US interest rates and lingering doubts about the pace of China’s economic recovery.

Among notable movers, Tencent gained 1.0%, Knowledge Atlas jumped 8.9%, SMIC advanced 3.2%, and Xiaomi rose 1.7%.