The Hang Seng Index climbed 707 points, or 2.4%, to 25,725 on Wednesday, bouncing back from a 0.7% drop in the previous session and reaching this week’s highest level. Broad gains across sectors lifted the market as investor confidence improved following a two-week ceasefire agreement between the United States and Iran, which helped ease concerns over military disruptions and reopened the Strait of Hormuz. The deal also contributed to a decline in crude oil prices and supported a rebound Asian equity. Locally, the market opened after the Easter holidays with renewed focus on structural drivers such as a surge in IPO activity in Hong Kong, where more than 40 companies have completed listings this year. Financials, technology, and consumer stocks led the rally, with Shanghai Iluvatar CoreX (17%), Knowledge Atlas Tech (16%), and Jiaxin Intl Rscs Invt (15%). Meanwhile, the early laggards included CNOOC (-3.7%), RemeGen (-2.9%), and SC Kelun-Biotech Biopharm (-2.8%).
