Bank of Indonesia said elevated oil prices are boosting global inflation and worsening fiscal prospects, contributing to rupiah depreciation.

Hang Seng Index rose 0.56% to 24,889.76 at midday after an early slight gap down and an intraday rally that briefly added nearly 200 points. The Hang Seng Tech Index slipped 0.13% to 4,399.91 after an initial spike. Market turnover was HKD108.49 billion. Innovative-drug stocks led gains; semiconductors rallied then retreated; gold and household-appliance names were among the biggest decliners. Notable movers: 07630.HK +42.13%, 06127.HK +3.86%, 02099.HK -7.42%, 06690.HK -4.03%.

Chinese commodity futures were mixed at the midday close. Shanghai crude (SC) fell over 4%; rapeseed meal dropped more than 2%. Polypropylene, LPG, live hogs, low-sulfur fuel oil (LU), propylene, apples and soybean meal declined over 1%. Pulp rose nearly 4% and lithium carbonate gained more than 3%; pure benzene and bitumen advanced over 2%.