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Hong Kong Stocks Advance; TCL Electronics Slides on HK$5.6 Billion Deal

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Hong Kong stocks continued their winning streak Thursday as investors looked past renewed tensions in the Middle East.

The Hang Seng Index rose 1.3%, or 327.50 points, to close at 25,008.60, while the Hang Seng China Enterprises Index gained 1.6%, or 133.76 points, to finish at 8,318.14.

The U.S. military said it completed another wave of strikes on Iran late Wednesday at the direction of President Donald Trump.

The targets included Bandar Abbas, Iran's main port on the Strait of Hormuz. Trump this week renewed threats to strike Iranian energy infrastructure and warned of attacks on bridges next week.

Meanwhile, softer-than-expected U.S. producer inflation data reinforced expectations that the Federal Reserve will leave interest rates unchanged later this month.

In corporate news, TCL Electronics (HKG:1070) slipped 12% after agreeing to acquire TCL AeroWell (Cayman), the holding company for TCL's air conditioner business, for HK$5.61 billion.

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