Middle East Sentiment Improves, Hong Kong Stocks Rise Sharply
Hong Kong stocks rallied on Thursday (April 16), buoyed by improving sentiment regarding the potential for de-escalation in the Middle East and stronger-than-expected Chinese first-quarter economic data. The Hang Seng rose 1.7% to 26,394.26, while the HSCEI gained 2.1% to 8,905.11.
Market optimism increased after signals of Pakistani mediation and indications from the Trump administration pointed to progress toward a deal that could reopen the Strait of Hormuz. In China, first-quarter GDP grew 5% year-on-year, beating expectations. However, the impact of the Iran conflict continued to be felt in the energy sector: China's crude oil throughput fell 2.2% year-on-year in March, despite record domestic oil production.
In individual stocks, Sigenergy Technology debuted in Hong Kong and closed up more than 103% to HK$659.50 from its offering price of HK$324.20. In contrast, Lens Technology fell nearly 13% after posting a loss in the first quarter of 2026. (Arl)
Source: Newsmaker.id