Hong Kong Stocks Edge Higher on Friday; Xiaomi Plummets 7%
Hong Kong stocks ended slightly higher on Friday, tracking broader Asian gains as investors weighed strength in global technology shares against ongoing uncertainty over interest rates.The Hang Seng Index rose 25.55 points, or 0.1%, to close at 25,884.43, while the Hang Seng China Enterprises Index fell 32.56 points, or 0.4%, to 8,612.15.Strong earnings from major U.S. technology companies lifted chipmakers and helped ease concerns over artificial intelligence-related spending. Meanwhile, oil prices declined as supply flows through key shipping routes improved despite limited progress in U.S.-Iran talks.Among individual stocks, Xiaomi (HKG:1810) dropped nearly 7% after unveiling its SkyNomad extended-range SUV series as it expands further into China's electric vehicle market.CANbridge Pharmaceuticals (HKG:1228) gained 1% after starting registration procedures and commercial preparations to launch its Gaucher disease therapy, Gaurunning, in a North African market.
