Asia
Hong Kong Stocks Start Week Marginally Higher; Two Firms File to Go Public in Hong Kong
Hong Kong stocks began the week marginally higher as markets reacted to news of Iran and the U.S. reaching a preliminary deal to end hostilities and reopen the critical Strait of Hormuz.The Hang Seng Index rose by around 124.57 points, or roughly 0.5%, to end at 24,842.67, while the Hang Seng China Enterprises Index finished near flat, inching up 1.31 points, or 0.02%.U.S. President Donald Trump said on Truth Social on Monday that the deal with Iran would keep the Strait of Hormuz permanently open "toll-free" to shipping. He also authorized the immediate removal of the U.S. naval blockade from the key waterway.In local development, Hong Kong's index of industrial production for manufacturing industries increased 3.1% year over year in the first quarter of 2026, but was below the 5.8% expansion recorded in the previous quarter.By major sector, output volume was driven by a 6.6% rise in the metal, computer, electronic and optical products, machinery and equipment industry, while the food, beverages and tobacco sector grew by 2.1%.Elsewhere, the Chamber of Hong Kong Listed Companies urged regulators to further ease listing requirements for innovative companies, saying that lower barriers would help attract more technology firms to raise capital in the city, the South China Morning Post reported, citing comments from its chairman, Chan Ka-keung.In corporate news, two Chinese firms filed to go public in Hong Kong.Shaanxi Micot Pharmaceutical Technology (HKG:2335) said it was seeking HK$1.22 billion via the sale of 58.1 million H shares at an indicative maximum price of HK$21.00 per share. The biotechnology firm is raising funds to advance clinical development of its drug candidates.Meanwhile, Shanghai Seer Intelligent Technology (HKG:6106) is targeting as much as HK$1.07 billion with its offering of 10.5 million H shares at an indicative price of HK$101.60 per share. The robotics company will use proceeds to advance its technology and infrastructure.
Hang SengHKG:2335HKG:6106
