Hang Seng Rebounds as Diplomatic Signals Ease Energy Pressure
Hong Kong stocks rallied on Tuesday (March 14) as investors returned to riskier assets, betting Middle East tensions could ease despite the US move to block Iranian ports after weekend talks in Islamabad failed to produce a breakthrough. The Hang Seng Index rose 0.8%, or 211.47 points, to 25,872.32, while the Hang Seng China Enterprises Index added 0.8% to 8,671.61.
Sentiment improved after a US official said diplomatic engagement was continuing and progress toward a deal was being made, according to a Reuters report. Pakistani Prime Minister Shehbaz Sharif also stated that efforts to resolve the conflict were ongoing. US President Donald Trump added that Iran was in contact and seeking a deal, but he reiterated that he would not accept an agreement that would allow Tehran to acquire nuclear weapons.
These signals of engagement helped ease pressure on energy markets, with oil prices weakening in Asian trading, giving equity markets room to recover.
On the issuer side, Wai Chun surged approximately 341% after announcing a partnership with Xavvi U.S. to build a platform targeting the global creator economy. Voyah Automotive Technology rose 8% after announcing that its controlling shareholder, Dongfeng Motor Group, planned to increase its stake.
Source: Newsmaker.id
