Risk-On Sentiment Reversal, Hang Seng Supported by Hopes of Talks
Hong Kong stocks edged higher on Wednesday (April 15th) as expectations of a resumption of US-Iran dialogue helped ease geopolitical concerns. The Hang Seng rose 75 points to close slightly higher at 25,947.32, while the Hang Seng China Enterprises Index rose 0.5% to 8,718.26.
Sentiment improved after US President Donald Trump said talks with Iran could resume within days, despite weekend negotiations in Islamabad failing to produce a breakthrough. Pakistani and Iranian officials also indicated discussions could resume. However, the US stated that its military had effectively halted maritime trade to and from Iran, maintaining pressure on Tehran.
In energy markets, oil prices continued their decline for a second day as the prospect of renewed talks eased concerns about supply disruptions. However, refiners are still seeking alternative supplies, which has boosted premiums for oil from regions such as the US Gulf Coast and the North Sea.
On the issuer side, Xuanzhu Biopharmaceutical surged more than 10% after receiving approval in China to begin phase 3 clinical trials of its Helicobacter pylori drug. (Arl)
Source: Newsmaker.id
