Hong Kong Stocks Slip
Hong Kong stocks weakened on Wednesday (May 13), with the Hang Seng Index falling 80 points, or 0.3%, to 26,270, as investors weighed US inflation pressures and escalating geopolitical risks against optimism ahead of the Trump-Xi meeting.
Sentiment remained cautious after US President Donald Trump signaled a tougher stance on Iran following criticism of the ceasefire. Unabated Middle East tensions continued to weigh on global markets, primarily due to uncertainty over energy routes and the risk of headline-driven volatility.
In commodities, oil prices held high after a sharp spike, as the ongoing conflict disrupted shipping flows through the Strait of Hormuz. This situation has rekindled concerns about renewed inflationary pressures, potentially limiting room for policy easing and pressuring risk assets.
On the stock exchange, Chinese technology stocks also came under scrutiny as investors demanded clarity on the returns from AI spending ahead of the earnings season. Several stocks weakened, including Tencent (-0.4%), SMIC (-3.0%), and Techtronic (-2.9%), while AIA (+1.2%) and Pop Mart (+2.0%) gained. (asd)
Source: Newsmaker.id