Hong Kong Stocks Edge Higher; Cathay Pacific Climbs on Profit Surge
Hong Kong stocks edged higher Wednesday as easing oil prices and optimism over continued artificial intelligence spending supported sentiment.The Hang Seng Index marginally rose 62.90 points, or 0.2%, to close at 25,915.82, while the Hang Seng China Enterprises Index gained 29.47 points, or 0.3%, to finish at 8,603.73.Technology shares found support after strong U.S. corporate earnings reinforced confidence in continued investment in artificial intelligence infrastructure.Oil prices extended their decline on hopes of progress toward reopening the Strait of Hormuz after Qatar said mediators were making headway in efforts to end the U.S.-Iran conflict.In corporate news, Cathay Pacific Airways (HKG:0293) closed nearly 3% higher after posting a 71% jump in first-half attributable profit.Meanwhile, Estun Automation (HKG:2715, SHE:002747) gained over 4% after saying its units, Estun Robot and Dingtong Electromechanical, will acquire collaborative robot developer Estun Codroid for 487.1 million yuan.
