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Hong Kong Stocks Start Week in Green; MiniMax Explores Shanghai Listing

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Hong Kong stocks closed higher Monday as investors shrugged off news of renewed tensions in the Middle East that dimmed hopes for the swift reopening of the vital Strait of Hormuz.

The Hang Seng Index rose by around 215.79 points, or roughly 0.9%, to end at 25,398.18, while the Hang Seng China Enterprises Index increased by 82.05 points, or around 1%, to close at 8,507.87.

Both the U.S. and Iran said they struck each other's military sites despite agreeing last week to extend a ceasefire for two months while initiating new negotiations over Tehran's nuclear program, Reuters reported.

Meanwhile, Chinese mainland investors became net sellers of Hong Kong stocks in May after selling around HK$3.6 billion of equities during the month, Bloomberg reported.

The outflows represent the first time that mainland investors sold more Hong Kong stocks than they purchased since June 2023, the report said.

In corporate news, MiniMax (HKG:0100) is exploring a proposed listing on the Shanghai bourse's STAR Market.

The artificial intelligence firm's shares were down nearly 16% at close.

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