Hang Seng Down, Hong Kong Markets Remain Wary of Middle East Conflict
Hong Kong stocks weakened on Thursday, with the Hang Seng Index falling 0.9% to 25,082, extending its decline for the second consecutive session. The decline occurred as market optimism faded amid renewed uncertainty about the chances of a de-escalation in the Middle East.
Sentiment pressure arose after US President Donald Trump declared the war in Iran "very close" to a resolution and expected operational targets to be reached within weeks, but he also warned that military operations could escalate. Trump continued to emphasize that diplomacy was still on track, while the market digested his claim that the Iranian President had requested a ceasefire, which Tehran later denied as false.
Nearly all sectors were in the red, led by declines in technology and commodity stocks. Tencent fell 1.0%, Xiaomi fell 2.0%, Zijin Gold International fell 3.4%, while MiniMax Group fell 6.7%, reflecting a more defensive investor stance amid geopolitical risks. (asd)
Source: Newsmaker.id