Hang Seng Closes 0.7% Lower as Iran Escalation Fuels Risk-Off Mood
The Hang Seng Index fell 182 points, or 0.7%, to close at 25,717 on Thursday, marking a second straight decline. The move came as U.S. equity futures dropped sharply after Iran stepped up attacks on oil and transport facilities across the Middle East, warning markets to brace for $200-a-barrel oil—pushing back against President Donald Trump’s claim that the U.S. had already “won the war.”
Sentiment in Hong Kong was also weighed down by a domestic headline. Authorities said Thursday they had launched an insider trading probe into two brokerages and a hedge fund, arresting eight people in what was described as the biggest crackdown on the financial industry in recent years.
All sectors ended lower, with property and financials among the biggest laggards, tracking weakness in mainland China stocks. Cathay Pacific slipped 1.6% after saying it will raise fuel surcharges on all routes from March 18 due to heightened geopolitical risks. Swire Properties fell 1.2% following the resignation of its chief financial officer.
Other notable decliners included Knowledge Atlas (-9.2%), Nongfu Spring (-4.5%), and Henderson Land Development (-3.7%).
Source : Newsmaker.id
