Hong Kong Stocks Rise, Iran Issues and Russian Oil Sanctions in Focus
Hong Kong stocks rallied in Tuesday morning trading, with the index rising 377 points, or 1.5%, to 25,789, recovering from the previous session's decline, as nearly all sectors contributed to the gains. Sentiment improved following an overnight Wall Street rally and statements by US President Donald Trump indicating the war against Iran could be nearing an end, coupled with reports of a potential easing of oil sanctions against Russia. However, a decline in US futures limited room for gains as geopolitical tensions remained subdued, including a renewed threat by the Iranian military to launch further missile attacks.
In China, the stock market edged higher after Monday's decline, while market participants awaited the release of combined January-February trade data, which is expected to show stronger exports and imports following last year's record surplus. On the macro front, consumer inflation surged to a three-year high in February, driven by Lunar New Year shopping, while producer price deflation showed signs of abating. On the stock board, gains were led by Minimax Group (+10.1%), H World Group (+4.7%), Cathay Pacific (+4.3%), Tencent (+2.9%), and SMIC (+2.6%).
Source: Newsmaker.id
