Hong Kong stocks edged higher Tuesday as falling oil prices eased inflation concerns, helping the market gain even as weakness in Asian technology shares weighed on regional sentiment.

The Hang Seng Index rose 74.02 points, or 0.3%, to close at 24,345.22, while the Hang Seng China Enterprises Index gained 6.15 points, or 0.1%, to 8,174.72.

Oil prices fell more than 1% as investors assessed the outlook for energy supplies following a Russia-Ukraine agreement to halt attacks on energy facilities. However, Asian markets came under pressure as a selloff in chipmakers renewed concerns about competition in the AI sector, prompting investors to seek safer assets such as government bonds.

Among individual stocks, Star Group (HKG:1560) jumped more than 10% after agreeing to issue 356 million shares at HK$0.50 each following the conversion of HK$178 million in convertible bonds by its controlling shareholder and two other investors.

Anjoy Foods Group (SHA:603345, HKG:2648) rose nearly 1% after proposing to acquire a 60% stake in Singapore-based frozen bakery producer International Foodgnostics for $30.5 million, valuing the company at about $50.8 million.