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In focus as Hong Kong sees IPO activity, with Kaifeng Millennium City Park filing and RedNote operator Xiaohongshu reportedly preparing a listing.

International

Tech Optimism, Earnings Lift Asian Stock Markets

Asian stock markets largely gained ground on Wednesday, as earnings results and tech-sector optimism more than offset concerns regarding rising crude prices and Persian Gulf turmoil.Hong Kong, Shanghai and Tokyo finished in the green, as did most other regional exchanges.In Japan, the Nikkei 225 opened evenly and rose to the close, finishing up 0.8% as a strong earnings season continued to undergird share prices.The benchmark Nikkei 225 rose 529.54 to 63,272.11, striking a fresh all-time high, as gaining issues outnumbered losers 157 to 64.Leading the upside was medical-device outfit Olympus, up 19.8%, while construction enterprise Shimizu declined 9.7%, with both moves following earnings reports.In economic news, the seasonally adjusted Economy Watchers Survey current conditions index fell to 40.8 in April from 42.2 in March, the lowest reading since 2022.In Hong Kong, the Hang Seng Index opened evenly, waffled but finished up 0.2%The broad gauge Hang Seng rose 40.53 to 26,388.44 as losing issues outnumbered gainers 51 to 35. The Hang Seng TECH Index gained 0.5% on the day, while the Mainland Properties Index fell 0.3%.Leading the upside was JD.com, gaining 8.3%, while Geely Automobile declined 5.2%.On the mainland, the Shanghai Composite rose 0.7% to 4,242.57.On the other regional exchanges, the S. Korean KOSPI rose 2.6%, again hitting a new all-time high on AI-sector optimism.The Taiwan TWSE declined 1.3%; the Australian ASX 200 declined 0.5%; the Singapore Straits Times Index rose 1.2%, and the Thai Set inclined 2.3%. In late trading in Mumbai, the Sensex was steady.The MSCI All Country Asia Pacific Index rose 0.6% on the day.

Hang SengNikkei 225Shanghai Composite
Asia

Hong Kong Stocks Eke Out Gains; Metis TechBio, Impact Therapeutics Shine on Debut

Hong Kong stocks edged higher on Wednesday ahead of the meeting between U.S. President Donald Trump and Chinese President Xi Jinping.The Hang Seng Index added 0.2%, or 40.53 points, to close at 26,388.44. The Hang Seng China Enterprises Index barely moved in negative territory to finish at 8,876.38.Trump is expected to arrive in Beijing on Wednesday ahead of talks scheduled for Thursday and Friday.The leaders of the world's two largest economies are set to hold their first face-to-face meeting in more than six months.Discussions are expected to focus on Iran, Taiwan, artificial intelligence, and nuclear weapons, while both sides also weigh extending their critical minerals agreement.Meanwhile, tensions in the Middle East remained unresolved after Trump said he was unlikely to seek China's assistance in ending the conflict with Iran.In corporate news, two companies made their debut on the Hong Kong bourse.Metis TechBio (HKG:7666) closed nearly 127% higher at HK$23.80, well above the offer price of HK$10.50.Impact Therapeutics (HKG:7630) advanced over 108% to close at HK$41.86, compared with the offer price of HK$20.10.

Hang SengHKG:7630HKG:7666
Equities

US Sanctions Hong Kong, UAE Firms Linked to Iran's Oil Sales to China

The U.S. Treasury Department sanctioned nine companies, including four each based in Hong Kong and the United Arab Emirates, for helping Iran ship oil to China, according to a Monday press release.Hong Kong-based Hong Kong Blue Ocean, Hong Kong Sanmu, Jiandi HK, and Max Honor International Trade helped Golden Globe, said to be a cover company arranging oil sales for Iran, the Office ⁠of Foreign Assets Control said.UAE-based Ocean Allianz Shipping, Atic Energy FZE, Blanca Goods Wholesaler, and Universal Fortune Trading, as well as Oman's Zeus Logistics, also helped the Islamic Revolutionary Guard Corps with oil purchases.The U.S. Treasury "will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy," Secretary Scott Bessent said in a statement.

Hang SengShanghai Composite^SZSE
International

Oil, Earnings, Trump-Xi Outlooks Roil Asian Stock Markets

Asian stock markets churned on Tuesday, as investors mulled the earnings season, rising crude prices, and the pending summit between US President Donald Trump and China leader Xi Jinping.Brent crude oil struck $107.67 a barrel, up 3.3% during Asian trading hours, as Persian Gulf turmoils continued to rattle oil markets.Tokyo finished in the green, while Hong Kong and Shanghai fell back. Other regional exchanges were similarly mixed.In Japan, the Nikkei 225 opened evenly, wobbled, but finished up 0.5% on strength in tech issues and a generally solid earnings season.The benchmark Nikkei 225 rose 324.69 to 62,742.57, as gaining issues outnumbered losers 124 to 99.Leading the upside was Furukawa Electric, gaining 16.1% after reporting earnings, while social-media platform LY Corporation declined 8.6%.In economic news, Japan's leading index of business conditions rose to 114.5 in March from 113.2 in February, striking the highest level since April 2022, reported the Cabinet Office.In Hong Kong, the Hang Seng Index opened steadily but declined to those close, finishing off 0.2% as investors awaited clarity ahead of the Trump-Xi meeting.The broad gauge Hang Seng fell 58.93 to 26,347.91 as losing issues outnumbered gainers 48 to 40. The Hang Seng TECH Index lost 0.7% on the day, while the Mainland Properties Index fell 0.5%.Leading the upside was Xinyi Glass, gaining 4.5%, while computer-maker Lenovo declined 3.4%.On the mainland, the Shanghai Composite fell 0.3% to 4,214.49.On the other regional exchanges, the South Korean KOSPI fell 2.3%; the Taiwan TWSE inclined 0.3%; the Australian ASX 200 declined 0.4%; the Singapore Straits Times Index rose 0.1%, and the Thai Set declined 0.4%. In late trading in Mumbai, the Sensex was down 1.9%.The MSCI All Country Asia Pacific Index fell 0.7% on the day.

Hang SengNikkei 225Shanghai Composite
Asia

Speculative-Grade Corporate Defaults Could Worsen Amid Middle East Impact, S&P Says

Speculative-grade corporate defaults in Asia-Pacific could rise over the next year amid the impact of the Middle Eastern conflict, S&P Global Ratings said in a recent release.The region's trailing 12-month speculative-grade corporate default rate could soar to 2.25% by March next year from 0.7% in December 2025.The rise in defaults will keep energy prices above pre-war figures for a significant period, S&P analyst Nick Kraemer said.S&P's forecast for the default rate ranges from zero under its optimistic scenario to 5% under a pessimistic case.The optimistic scenario considers S&P's base case for the conflict and little to zero direct impact from the stoppage of energy and materials flows.Meanwhile, the pessimistic scenario entails lingering disruption to energy and shipping flows and stronger credit stress, S&P said.

ASX 200Hang SengNikkei 225Shanghai Composite^SZSE
International

Hong Kong's SME Sentiment Worsens in April

Business sentiment among Hong Kong's small and medium-sized enterprises (SMEs) weakened in April.The current diffusion index (DI) on business receipts amongst SMEs slipped to 44 in the contractionary zone in April from 44.3 in March, according to data released Tuesday by the Census and Statistics Department.The outlook index for May was 47.5, still under the 50-mark signaling contraction.The business sentiment remained cautious in the month amid the Middle East conflict, according to a government spokesman.Looking ahead, the situation in the Middle East continues to cause uncertainty for local business sentiment, however, economic growth is expected to provide support.

Hang Seng
Asia

Hong Kong Stocks End Lower as U.S.-Iran Talks Remain Stalled; Hengrui Pharma Jumps

Hong Kong stocks ended slightly lower on Tuesday as fading expectations for progress in U.S.-Iran negotiations and caution ahead of U.S. inflation data weighed on sentiment.The Hang Seng Index shed 0.2%, or 58.93 points, to close at 26,347.91, while the Hang Seng China Enterprises Index barely moved in negative territory to finish at 8,882.37.U.S. President Donald Trump said on Monday that a ceasefire with Iran was "on life support" after Tehran's response to a U.S. proposal highlighted divisions between the two sides.Tehran has called for compensation for war-related damage, an end to the U.S. naval blockade, assurances against further attacks, and the resumption of Iranian oil exports.Markets are also closely watching Trump's visit to China, which begins on Wednesday.In corporate news, Hengrui Pharmaceuticals (HKG:1276, SHA:600276) advanced nearly 5% in Hong Kong after signing a drug development deal with Bristol Myers Squibb worth up to $15.2 billion.

Hang SengHKG:1276SHA:600276
Asia

Market Chatter: Hong Kong Banks Step Up Collateral Sales, Liquidations to Cut Bad Debt

Hong Kong banks are stepping up efforts to clean up a growing pile of bad loans, with special asset bankers increasingly turning to tougher recovery measures such as collateral sales and borrower liquidations, Bloomberg News reported Monday.The city's distressed loan ratio has climbed to a two-decade high as soured debt reached about HK$200 billion, driven largely by losses tied to Hong Kong commercial real estate, the report said.At least six lenders have expanded their special asset or recovery teams, including Bank of East Asia (HKG:0023), United Overseas Bank's (SGX:U11) Hong Kong branch, Bank of China (Hong Kong) (HKG:3988), and Hang Seng Bank, according to people familiar with the matter cited by Bloomberg.The banks are reportedly seeking to accelerate loss recovery and free up capital for fresh lending as broader economic conditions improve.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang SengHKG:0023HKG:3988SGX:U11
International

Wall Street Cues, Oil, Geopolitics Roil Asian Stock Marlets

Asian stock markets largely churned Monday, as traders weighed AI-sector optimism but rising crude prices, and mulled US President Donald Trump's rejection on Sunday of an Iranian peace proposal.Brent crude rose to $103.88 a barrel, up 2.6%, during Asian trading hours.Hong Kong and Shanghai finished in the green, while Tokyo lagged. Another fresh zenith was set on Seoul's KOSPI index, which gained 4.3% after Wall Street-listed tech-sector peer issues rose on Friday. Other regional exchanges were mixed.In Japan, the Nikkei 225 opened higher on AI-sector optimism, but sagged and closed down 0.5% as rising crude prices undercut optimism.The benchmark Nikkei 225 rose 295.77 to 62,417.88, although gaining issues outnumbered losers 131 to 89.Leading the upside was video-game maker Konami, up 10.3%, while Nintendo declined 8.4%, with both moves following earnings releases.In Hong Kong, the Hang Seng Index opened lower but edged into the green, up 0.1% as traders monitored Middle East turmoil, but better-than-expected trade reports from Beijing.The broad gauge Hang Seng rose 13.13 to 26,406.84, as gaining issues outnumbered losers 51 to 32. The Hang Seng TECH Index gained 0.1% on the day, while the Mainland Properties Index rose 1.3%.Leading the upside was property-developer Longfor, gaining 8.4%, while New Oriental Education & Technology declined 5%.On the mainland, the Shanghai Composite rose 1.1% to 4,225.02.In economic news, China consumer price index (CPI) in April rose 1.2% on year, while the producer price index (PPI), pushed by crude prices, rose 2.8% in the same time period, reported the National Bureau of Statistics (NBS).On the trade scene, China's exports in April grew 14.1% on year to $359.4 billion, while imports grew by 15.3% to $274.6 billion, reported China's Customs Administration.On the other regional exchanges, the Taiwan TWSE inclined 0.5%; the Australian ASX 200 declined 0.5%; the Singapore Straits Times Index rose 0.4%, and the Thai Set declined 0.7%. In late trading in Mumbai, the Sensex was down 1.7%The MSCI All Country Asia Pacific Index rose 0.4% on the day.

Hang SengNikkei 225Shanghai Composite
Asia Markets

Hong Kong Stocks Little Changed as U.S.-Iran Talks Remain Deadlocked; LDROBOT Gains on Debut

Hong Kong stocks were broadly unchanged Monday as diplomatic tensions between the U.S. and Iran remained unresolved.The Hang Seng Index rose 13.13 points to end little changed at 26,406.84, while the Hang Seng China Enterprises Index barely moved in negative territory, slipping 4.87 points to finish at 8,884.20.U.S. President Donald Trump on Sunday rejected Iran's response to a U.S. proposal aimed at ending the conflict, calling Tehran's demands "totally unacceptable."Iran's proposal centered on ending the conflict, lifting sanctions, securing reparations, and gaining recognition of its control over the Strait.Meanwhile, Trump and Chinese President Xi Jinping are expected to discuss Iran, Taiwan, artificial intelligence, and nuclear weapons as the two sides consider extending a critical minerals agreement during their first face-to-face meeting in more than six months.Trump is expected to arrive in Beijing on Wednesday ahead of talks scheduled for Thursday and Friday.In corporate news, Shenzhen LDROBOT (HKG:1236) debuted in Hong Kong, closing nearly 128% higher at HK$60.00, compared with the offer price of HK$26.36.Sino Biopharmaceutical (HKG:1177) advanced over 4% after securing rights to supply GlaxoSmithKline's hepatitis B drug bepirovirsen in China.

Hang SengHKG:1177HKG:1236
International

Higher Oil Prices, Persian Gulf Outlook Lower Asian Stock Markets

Asian stock markets trailed lower Friday on rising crude prices, after media reports that the US and Iran exchanged fire in the Strait of Hormuz.Brent crude futures traded at $100.55 a barrel, up 0.5%, during Asian market hours.Hong Kong and Tokyo equity indices finished in the red, while Shanghai was steady. Other regional exchanges were mixed on the downside.In Japan, the Nikkei 225 opened lower and could not recover, finishing off 0.2% as traders booked profits in a market trading near an all-time high, and weighed Middle East war reports and crude prices.The benchmark Nikkei 225 fell 120.19 to 62,713.65, as losing issues outnumbered gainers 128 to 99.Leading the upside was silicon-wafer maker Sumco, up 18%, while Yokogawa Electric declined 9.8%.In economic news, the Japan services purchasing managers index (PMI) declined to 51.0 in April, down from 53.4 in March, but still struck above the 50-mark that separates growth from contraction, reported S&P Global.The nation's composite PMI, a combination of the manufacturing and services sectors, slipped to 52.2 in April from 53.0 in March.In Hong Kong, the Hang Seng Index opened lower and drifted, closing down 0.9%.The broad gauge Hang Seng fell 232.57 to 26,393.71, as losing issues outnumbered gainers 58 to 31. The Hang Seng TECH Index lost 0.4% on the day, although the Mainland Properties Index rose 2.5%.Leading the upside was online social-media platform Kuaishou Technology, gaining 9.4%, while Semiconductor Manufacturing International declined 4.4%.On the mainland, the Shanghai Composite closed flat at 4,179.95.On the other regional exchanges, the S. Korean KOSPI rose 0.1%; the Taiwan TWSE declined 0.8%; the Australian ASX 200 declined 1.5%; the Singapore Straits Times Index fell 0.4%, and the Thai Set declined 0.5%. In late trading in Mumbai, the Sensex was down 0.7%.The MSCI All Country Asia Pacific Index fell 0.8% on the day.

Hang SengNikkei 225Shanghai Composite
Asia

Hong Kong Stocks End Week in Red; Robotphoenix Files for HK$750 Million IPO

Hong Kong shares fell Friday as renewed clashes between the U.S. and Iran weighed on investor sentiment.The Hang Seng Index fell by around 232.57 points, or roughly 0.9%, to end at 26,393.71, while the Hang Seng China Enterprises Index decreased by 30.41 points, or around 0.3%, to close at 8,889.07.Both Iran and the U.S. traded blows with each other, with Tehran claiming U.S. forces targeted civilian areas, while the U.S. said its forces hit Iranian military facilities that attacked its warships in the Strait of Hormuz.Despite the tensions, U.S. President Donald Trump said a ceasefire with Iran remains in effect. However, the U.S. president warned Tehran of stronger military action if it fails to quickly reach a deal.In corporate news, Robotphoenix Intelligent Technology (HKG:6871) launched its Hong Kong initial public offering to raise up to HK$750.3 million.The China-based industrial robotics maker is offering 24.6 million H-shares at HK$30.50 per share to raise funds to develop its robotics technology and expand its business.

Hang SengHKG:6871
Asia

Market Chatter: China Creditors Seek Redress from Hong Kong Courts to Enforce Collection Rulings

Chinese creditors finding difficulty chasing payments from distressed mainland property developers are seeking help from courts in Hong Kong, Bloomberg reported Thursday.Courts in the city could rule on mainland cases under reciprocal recognition arrangements established in recent years to help with cross-border enforcement of commercial and insolvency cases, the report said.Among the cases being heard under these rules is Beijing Oriental Yuhong Waterproof Technology's (SHE:002271) motion to enforce an onshore ruling against Sunac China (HKG:1918) Chairman Sun Hongbin, who was ordered to pay 418.5 million yuan, the report said.Should the Hong Kong court rule in favor of Yuhong, it could seek to open Sun's offshore assets and take action on the waterproofing company's case against Sunac China's chairman, according to Bloomberg.The lawsuit could open avenues for onshore creditors to seek redress in Hong Kong against Chinese creditors, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang SengShanghai Composite^SZSEHKG:1918SHE:002271
International

Oil, AI Outlooks Buoy Asian Stock Markets

Asian stock markets rallied on Thursday as global crude prices continued to slip on media reports that Tehran and Washington may be nearing an agreement that could open the Strait of Hormuz as part of larger Persian Gulf peace negotiations.Hong Kong, Shanghai, and Tokyo finished in the green, as did most other regional exchanges. New record highs were set on equity indices in Seoul, Taiwan, and Tokyo.In Japan, the Nikkei 225 opened higher after a five-day hiatus and rose to the close, finishing up 5.6% as traders weighed Middle East outlooks and easing oil prices.The benchmark Nikkei 225 rose 3,320.72 to 62,833.84, as gaining issues outnumbered losers 173 to 49.Leading the upside was semiconductor components maker Ibiden, up 22.4%, while oil driller Inpex fell 6.5%.In Hong Kong, the Hang Seng Index opened higher and held ground, finishing up 1.6% on strength in property and tech issues.The broad gauge Hang Seng rose 412.50 to 26,626.28, as gaining issues outnumbered losers 79 to 11. The Hang Seng TECH Index gained 3.1% on the day, while the Mainland Properties Index rose 3%.Leading the upside was toolmaker Techtronic, gaining 10.3%, while PetroChina declined 8.5%.On the mainland, the Shanghai Composite rose 0.5% to 4,180.09.On the other regional exchanges, the South Korean KOSPI rose 1.4%; the Taiwan TWSE advanced 1.9%; the Australian ASX 200 gained 1%; the Singapore Straits Times Index rose 0.3%, but the Thai Set declined 0.6%. In late trading in Mumbai, the Sensex was down 0.1%The MSCI All Country Asia Pacific Index rose 2.1%, to strike a fresh all-time high.

Hang SengNikkei 225Shanghai Composite
Asia

Hong Kong Stocks Hit 10-Week High; Midea Taps Bond Markets to Raise HK$17 Billion

Hong Kong equities rose to a near 10-week high on Thursday after U.S. President Donald Trump said Washington was making progress toward a peace deal with Iran.The Hang Seng Index rose by 412.50 points, or 1.6%, to end at 26,626.28, the best finish since Feb. 27. The Hang Seng China Enterprises Index increased by 118.73 points, or 1.4%, to 8,919.48.Trump told reporters at the White House that "it's very possible that we'll make a deal," as Tehran reviewed a U.S. peace proposal that could formally end the Middle East conflict.The latest memorandum from the U.S. would kick off discussions to unblock shipping from the Strait of Hormuz and lift sanctions on Iran in exchange for curbs on Tehran's nuclear program, Reuters reported.In local development, Hong Kong's retail sales jumped nearly 13% year on year to HK$33.9 billion in March. Meanwhile, the value of total receipts in the city's restaurant sector rose 1.1% year over year to HK$28.4 billion in the first quarter of 2026.In corporate news, Midea (SHE:000333, HKG:0300) plans to issue HK$8.62 billion of zero-coupon convertible bonds due 2027 and HK$8.62 billion of zero-coupon convertible bonds due 2033.The appliance manufacturer plans to use about 60% of the proceeds for international expansion and offshore liquidity enhancement, with the remainder for general corporate purposes.

Hang SengHKG:0300SHE:000333
International

Falling Oil Prices, Middle East Views Lift Asian Stock Markets

Asian stock markets tracked higher Wednesday as global crude prices eased, and on media reports that the Trump Administration and Tehran are in peace discussions. Overnight fresh all-time zeniths on Wall Street helped set tone.Hong Kong and Shanghai finished in the green, while Tokyo remained closed on holiday.Seoul's KOSPI index rose 6.5% to shatter the 7,000-milestone, on strength in tech and semiconductor issues, including a 14.4% rise in Samsung Electronics shares.In Hong Kong, the Hang Seng Index opened evenly and rose to the close, finishing up 1.2% as traders viewed Persian Gulf prospects, and noted a 7% decline in Brent crude prices during market hours. A property-sector rally lifted broader indices as well.The broad gauge Hang Seng rose 315.17 to 26,213.78, as gaining issues outnumbered losers 67 to 22. The Hang Seng TECH Index gained 0.8% on the day, while the Mainland Properties Index rose 4.6%.Leading the upside was Xinyi Glass, gaining 9.8%, while Li Auto declined 2.6%.On the mainland, the Shanghai Composite rose 1.2% to 4,160.17.On the other regional exchanges, the Taiwan TWSE inclined 0.9%; the Australian ASX 200 inclined 1.3%; the Singapore Straits Times Index rose 0.1%, and the Thai Set inclined 1.8%. In late trading in Mumbai, the Sensex was up 1.2%.The MSCI All Country Asia Pacific Index rose 2.6% on the day, also striking a record high.

Hang SengNikkei 225Shanghai Composite
International

Hong Kong's March Retail Sales Value Climbs 13%

Hong Kong's retail sales value was provisionally estimated at HK$33.9 billion in March, up 12.8% from a year prior, according to data released by the Census and Statistics Department Wednesday.Online sales, which accounted for 9.7% of the total retail sales value in the month, increased 35.1% to HK$3.3 billion.The sales value of other consumer goods not classified elsewhere climbed 18.1%; jewelry, watches, clocks, and valuable gifts 27.2%; wearing apparel 8.3%; and motor vehicles and parts 80.8%, among others.On the other hand, the sales value of fuels slipped 14.2%; Chinese drugs and herbs 5.4%; and footwear, allied products, and other clothing accessories 10.2%.Retail sales value jumped 12.1% year over year in the first quarter of 2026.

Hang Seng
International

Hong Kong Restaurants See Receipts, Purchases Rise in Q1 2026

Hong Kong's value of total receipts in its restaurant sector rose 1.1% year over year to HK$28.4 billion in the first quarter of 2026, the city's census and statistics department said Wednesday.The value of total purchases by restaurants in the city increased 3.6% during the period to HK$9.1 billion.Net of price changes, the volume of total restaurant receipts rose marginally by 0.2% in Q1, the department said.Total receipts by Chinese restaurants rose 0.9% in value but decreased 0.2% in volume, while that of non-Chinese restaurants rose 2.8% in value and 2.1% in volume.Fast food shops saw receipts decline 0.6% in value and 1.5% in volume, the department said.A government spokesman said the business of restaurants continued to improve in the first quarter, and is expected to continue doing so thanks to "generally solid local consumer sentiment and sustained growth in inbound tourism."

Hang Seng
Asia

Hong Kong Stocks Rally On Hopes of U.S.-Iran Peace Deal; Cofoe Medical Makes Tepid Market Debut

Hong Kong equities rallied Wednesday as investors cheered a pause of hostilities between Iran and the U.S.The Hang Seng Index rose by around 315.17 points, or roughly 1.2%, to end at 26,213.78, while the Hang Seng China Enterprises Index increased by 70.26 points, or around 0.8%, to close at 8,800.75.Investors appeared to be holding out hope for a possible peace agreement between the U.S. and Iran after the Trump administration announced an end to Operation Epic Fury.US President Donald Trump also halted the military operation Project Freedom in the Strait of Hormuz which was to help ships stranded in the waterway, a key route that carried about one-fifth of global oil and LNG trade before the war.Trump also indicated a possible peace deal may be reached with Iran, causing dollar and oil prices to ease somewhat, Reuters reported.In local development, Hong Kong's gross domestic product grew 5.9% year over year in the first quarter of 2026, faster than the revised 4% expansion in the fourth quarter of 2025, according to advance estimates released by the Census and Statistics Department.Meanwhile, S&P Global said Hong Kong's private sector business conditions deteriorated for a second straight month in April as output and new orders declined amid sharply higher costs linked to the war in the Middle EastOutput contracted at the fastest pace since June 2025, while new orders fell for a second consecutive month.In corporate news, Cofoe Medical Technology (HKG:1187; SHE:301087) had a tepid debut in Hong Kong.The Chinese home care medical device provider closed at HK$38.90 per share, marginally lower than offer price of HK$39.33.

Hang SengHKG:1187SHE:301087
US Markets

Asian Industry Sustains Expansion in April: PMI Report

Despite headwinds from Persian Gulf turmoils, Asia's business sectors largely expanded in April, led by the automobile industry, reported S&P Global on Wednesday."Output growth was recorded across 16 of the 18 monitored Asian sectors in April. This figure was up from 15 in March, as metals & mining production returned to growth," said S&P Global, citing its surveys of regional economies.Showing strength in April was the automotive industry. "Leading the rankings for the first time in nearly two years was the automobiles & auto parts sector. The pace of output expansion in the sector quickened to the steepest since May 2024 and was rapid overall," explained S&P Global.Among the broader categories, consumer products did generally well in April."Consumer goods outperformed the other six tracked areas, with growth also supported by strong and accelerated expansions in output across the beverages & food and household & personal use products segments," added S&P Global.The tech and industrial sectors followed consumer goods on the upside, while the slowest expanding sectors were basic materials, financials and healthcare.In contrast to the general regional expansion, the forestry & paper products and construction materials sectors experienced softening in April, reported S&P Global.However, Asian business managers also reported rising and accelerating costs of operation in April."On the prices front, the latest data indicated that cost burdens rose in 17 of the 18 monitored sectors in April. Notably, the majority of these saw expenses increase at a stronger pace than in March," said S&P Global.Of the 18 monitored industries, only banks and real estate lowered output charges, said the credit-rating agency.The Asia Sector PMI indices were compiled by S&P Global from surveys received from 6,000 Asian private-sector companies.

ASX 200^BSE^HNX^HOSEHang Seng^JKSEKOSPINikkei 225^NSE^SETShanghai CompositeTaiwan Weighted

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