The Hang Seng Index climbed 320 points, or 1.2%, to 26,190 on Wednesday, marking its highest reading since March 2026 and extending gains for a second consecutive session. The advance was driven by lower oil prices and growing expectations of progress toward a diplomatic breakthrough in the Middle East. Sentiment was also supported by a broader easing in global risk concerns, as reports of potential renewed US-Iran negotiations helped push crude prices lower and reduce inflation fears. Locally, sentiment was supported by ongoing Hong Kong fundraising activity, including China’s Huaqin seeking to raise about US$581 million through a share sale, highlighting continued equity issuance in the market despite volatility. Tech and consumer stocks led the gains with notable movers included Tencent Holdings (2.2%), Pop Mart International (2.4%), Semiconductor Manufacturing (2.2%), Xiaomi Corporation (0.8%), and Meituan Class (1.9%).
