The Hang Seng Index rose 320 points, or 1.2%, to 26,190 on Wednesday, its highest level since March 2026 and its second straight day of gains. The rally was underpinned by lower oil prices and mounting hopes for diplomatic progress in the Middle East. Global risk sentiment also improved, as reports of possible renewed US-Iran talks weighed on crude prices and eased inflation concerns.
Locally, confidence was bolstered by continued fundraising activity in Hong Kong, with China’s Huaqin seeking to raise about US$581 million via a share offering, underscoring the resilience of equity issuance despite recent volatility. Tech and consumer shares led the advance, with notable movers including Tencent Holdings (up 2.2%), Pop Mart International (2.4%), Semiconductor Manufacturing (2.2%), Xiaomi Corporation (0.8%), and Meituan (Class shares) (1.9%).
