Hong Kong Stocks Edge Higher

The Hang Seng Index edged up 0.4%, or 101 points, to 24,302 on Thursday, extending the previous session’s strong rally as investors continued to favor technology and semiconductor shares. Market sentiment was supported by a busy IPO pipeline, with Apple supplier Luxshare Precision Industry set to debut at HK$63.25, near its IPO price, while AI firm Zhipu AI launched a Hong Kong share sale seeking to raise up to HK$4 billion, reinforcing optimism toward AI-related stocks. Gains came despite renewed US-Iran hostilities that pushed oil prices above $74 a barrel and lifted Treasury yields. Meanwhile, data showed China’s annual inflation rate eased to 1.0% in June from 1.2% in May, while producer prices increased 4.1%, accelerating from 3.9% Technology and retail trade stocks led the advance. Notable gainers included Knowledge Atlas (14.5%), Semiconductor Manufacturing International Corporation (4.2%), Xiaomi (1.7%), MiniMax (2.0%), Lenovo (3.9%), and Shanghai Iluvatar CoreX (4.6%).

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