Hong Kong Stocks Little Changed as U.S.-Iran Talks Remain Deadlocked; LDROBOT Gains on Debut

MT Newswires Live

May 11

Hong Kong stocks were broadly unchanged Monday as diplomatic tensions between the U.S. and Iran remained unresolved.

The Hang Seng Index rose 13.13 points to end little changed at 26,406.84, while the Hang Seng China Enterprises Index barely moved in negative territory, slipping 4.87 points to finish at 8,884.20.

U.S. President Donald Trump on Sunday rejected Iran's response to a U.S. proposal aimed at ending the conflict, calling Tehran's demands "totally unacceptable."

Iran's proposal centered on ending the conflict, lifting sanctions, securing reparations, and gaining recognition of its control over the Strait.

Meanwhile, Trump and Chinese President Xi Jinping are expected to discuss Iran, Taiwan, artificial intelligence, and nuclear weapons as the two sides consider extending a critical minerals agreement during their first face-to-face meeting in more than six months.

Trump is expected to arrive in Beijing on Wednesday ahead of talks scheduled for Thursday and Friday.

In corporate news, Shenzhen LDROBOT (HKG:1236) debuted in Hong Kong, closing nearly 128% higher at HK$60.00, compared with the offer price of HK$26.36.

Sino Biopharmaceutical (HKG:1177) advanced over 4% after securing rights to supply GlaxoSmithKline's hepatitis B drug bepirovirsen in China.

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