Hong Kong stocks extended their gains on Wednesday, lifted by hopes of de-escalation in the Middle East after reports that the U.S. and Iran exchanged messages.
The Hang Seng Index rose by around 272.24 points, or roughly 1.1%, to end at 25,335.95, while the Hang Seng China Enterprises Index increased by 83.21 points, or around 1%, to close at 8,582.74.
Markets are betting on a potential U.S.-Iran truce after US President Donald Trump said he held productive talks with Iran to end the war, claiming Tehran had offered a major oil- and gas-related concession.
Tehran disputed Trump's announcement that there are plans for a dialogue, but an Iranian official said there were exchanged messages on both sides.
In corporate news, Pop Mart International (HKG:9992), CSPC Pharmaceutical (HKG:1093) and ANTA Sports Products (HKG:2020) were among the companies that reported their 2025 earnings.
Pop Mart reported 9.58 yuan in earnings per share on revenue of 37.1 billion yuan, missing the Visible Alpha estimate of 9.84 yuan on sales of 37.7 billion yuan.
Shares of the toy maker fell nearly 23%.
CSPC Pharmaceutical similarly missed the Visible Alpha forecast after posting 0.3398 yuan in EPS on sales of 26 billion yuan versus expectations of 0.40 yuan on revenue of 27.6 billion yuan.
The drugmaker closed 2% higher.
ANTA Sports booked 4.80 yuan in EPS on revenue of 80.22 billion yuan, beating the Visible Alpha forecast of 4.61 yuan on sales of 78.96 billion yuan.
The sporting goods maker closed 1% lower.
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