Hong Kong stocks edged higher Monday as falling oil prices eased inflation concerns, while investors watched for signs of improved energy supplies amid ongoing Middle East tensions.

The Hang Seng Index rose 59.85 points, or 0.3%, to close at 24,271.20, while the Hang Seng China Enterprises Index gained 20.70 points, or also 0.3%, to 8,168.57.

Oil prices fell after U.S. President Donald Trump said Russia and Ukraine had agreed to stop attacking each other's energy facilities, raising expectations of increased Russian oil supplies. The move eased concerns over energy costs even as tensions in the Gulf continued.

In corporate developments, HK.AI Capital (HKG:1140) said it plans to stop acquiring artwork and sell its existing portfolio, targeting sales of HK$500 million by Aug. 31, 2027, and HK$900 million by Aug. 31, 2028. Shares of the company rose more than 2%.

Transcenta's (HKG:6628) subsidiary received a Chinese invention patent for antibodies targeting Claudin18.2 and their use in diagnostic applications, including development of a companion diagnostic test for its lead cancer drug candidate osemitamab. Shares of the company fell 5%.