The Hang Seng Index was little changed to close at 25,495 on Wednesday, recovering from an earlier decline as HKEX shares gained 1.6% to HK$411.40 following the exchange operator’s strong first-half results. Revenue rose 19% year-on-year, attributable profit increased 24%, and the interim dividend was lifted 24%, providing support to market sentiment. At the same time, Hong Kong and China Gas climbed after posting a 23% increase in first-half profit, helping support the broader market. Still, gains were capped by a cautious global backdrop, with investors digesting a selloff in technology shares, elevated US Treasury yields, higher oil prices, and renewed Middle East tensions that weighed on risk appetite across Asian markets. Notable movers included Xiaomi (5.1%), Tencent (0.9%), and Meituan (1.9%). In contrast, SMIC and China Unicom declined 4.6% and 12.8% respectively.