Hong Kong stocks rebounded Wednesday as investors looked past volatility in AI-related shares and focused on signs of progress in U.S.-Iran peace talks.

The Hang Seng Index rose 0.3%, or 75.90 points, to close at 23,412.18, while the Hang Seng China Enterprises Index edged up 5.61 points to finish at 7,764.97.

A sharp selloff in semiconductor stocks dragged the Nasdaq and S&P 500 to one-week lows Tuesday amid concerns over AI spending and a more hawkish Fed.

Meanwhile, U.S. President Donald Trump said Tuesday that Iran had agreed to allow nuclear inspections indefinitely, a claim Tehran rejected, saying no such concession had been made in ongoing negotiations.

The two sides, which concluded a first round of talks in Switzerland on Monday, also offered conflicting accounts on key elements of the framework agreement reached last week.

In corporate news, two companies made their trading debut on the Hong Kong bourse.

Shanghai Seer Intelligent Technology (HKG:6106) closed 4% higher at HK$106.00, compared with the offer price of HK$101.60.

Shaanxi Micot Pharmaceutical Technology (HKG:2335) advanced 103% to close at HK$36.90, versus its offer price of HK$18.20.