Hong Kong semiconductor stocks strengthened in afternoon trade. Zhaoyi Innovation (03986.HK) jumped over 14%, Huahong Hongli (01347.HK) rose more than 8%, SMIC (00981.HK) gained about 5%, while Shanghai Fudan (01385.HK) and Lanqi Technology (06809.HK) also advanced.

Iran's deputy foreign minister said the first meeting of the Iran-Oman Hormuz Sea Joint Committee was held.

Hong Kong can serve as a gateway for mainland firms seeking overseas expansion, Financial Secretary Chan Mo-po said in a blog on June 28. Under Beijing’s “dual circulation” strategy, Hong Kong’s international platform can help mainland companies link R&D to global markets and convert tech innovation into overseas orders. Chan said the city can attract international long-term capital for hard‑tech companies that require patient capital, supporting a “small, early, long‑term” investment approach to scale promising technology and emerging industries. He also said Hong Kong’s Northern Metropolis development aligns with Xi’an’s strong startup ecosystem, creating potential synergies across education, technology, talent and industry.