Hang Seng Rises Slightly, Sentiment Stemmed by Middle East Tensions
Hong Kong stocks closed slightly higher on Monday, with the Hang Seng Index rising 130 points, or 0.5%, to 26,285. This gain came after volatility earlier in the session, as investors weighed mixed global trade signals and rising geopolitical uncertainty.
Market caution persisted as escalating tensions in the Middle East fueled concerns about potential shipping disruptions in the Strait of Hormuz and further strained US-Iran relations. These risk factors limited regional risk appetite at the start of the week.
Over the weekend, President Donald Trump announced that the US Navy intercepted and seized an Iranian-flagged cargo ship in the Gulf of Oman after it allegedly attempted to breach a blockade. Tehran condemned the incident as a ceasefire violation, rekindling concerns about energy security.
These developments reinforced market concerns about energy supply risks and curbed risk assets, although the index managed to rebound after initial volatility. Market participants appeared to be choosing more selective positions amid the uncertainty surrounding geopolitical headlines.
On the stock side, the financial and technology sectors led the gains. Among the stocks that recorded gains were Tencent (+0.1%), Guoquan Food (+1.0%), Xiaomi (+1.3%), AIA Group (+1.8%), and Kuaishou Technology (+1.2%). (asd)
Source: Newsmaker.id
