Two commodities firms controlled by the same Kazakhstan oil and mining tycoon have applied for listings in Hong Kong, boosting the stock exchange’s bid to diversify away from Chinese issuers. Kazakh Steel and MM Petroleum, both controlled 73-year old metals magnate Kanat Assaubayev, filed their preliminary prospectuses in April and June respectively for their initial public offerings (IPOs). They are among a tiny handful of foreign companies that have sought to raise funds on the city’s bourse this year. One of the most powerful families in Kazakhstan , the Assaubayevs used to own KazakhGold, the country’s largest gold mining company....