TASNIM News reported the US military struck a residential area in Abbas Port, Iran, injuring at least seven people.

China International Capital Co research says the China food & beverage sector is in a bottoming recovery with structural divergence. Valuations have fallen to historical lows, offering a healthy margin of safety. Consumption trends favor better quality-for-price, functional and health-oriented products. Channel growth is expected from snack bulk sales, membership supermarkets and instant retail. Into H2, as new consumption scenarios emerge, the firm expects a gradual sector valuation re-rating to take hold.

Hang Seng up 1.93% to 25,157.56 at the midday close after opening more than 100 points higher and rising over 500 points to an intraday high of 25,188.7. Hang Seng Tech climbed 3.08% to 4,886.39. Market turnover reached HKD 178.051 bln. Tech and internet names led gains; autos and gold outperformed and biotech moved higher. Semiconductors lagged, led lower by memory-chip names. Movers: Xiaomi (01810.HK) +6.26%, Alibaba (09988.HK) +4.76%, Xpeng (09868.HK) +7.52%; 06127.HK +2.04%, 03986.HK -7.69%, 06809.HK -17.15%.