26.05.202602:08:57UTC+00Hong Kong Stocks Edge Higher

The Hang Seng Index added 60 points, or 0.2%, to trade near 25,660 on Tuesday. Earlier gains were underpinned by optimism over a potential US‑Iran agreement, which supported broader Asian equities while pressuring oil prices. Reports indicated that Washington and Tehran were moving closer to a deal aimed at easing regional tensions and securing shipping access through the Strait of Hormuz.

Sentiment toward Xiaomi Corporation weakened as short interest in the stock rose to a record high, reflecting concerns about increasing memory costs and intensifying competition in China’s electric vehicle market.

Financials and electronic technology names led the advance on the Hang Seng, with Semiconductor Manufacturing International Corporation and Lenovo Group jumping 9.1% and 10.7%, respectively. Other notable movers included Xiaomi Corporation (up 0.4%), Kingboard Laminates (up 8.5%), and XPeng Inc. (up 4.7%).

By contrast, the technology services sector slipped roughly 0.7%, weighed down by Tencent Holdings, which fell nearly 1%.