Hong Kong Stocks Rise Slightly Amid US-Iran Optimism
The Hang Seng Index rose 127 points, or 0.5%, to 25,780 on Thursday (May 21), recovering from the previous session's losses. This gain followed a Wall Street rally and improved risk sentiment as progress in US-Iran talks eased geopolitical tensions, while also lowering oil prices.
Domestically, sentiment was supported by global optimism about technology demand, particularly in the artificial intelligence sector, which supported technology stocks. However, volatility in NVIDIA shares put pressure on parts of the chip sector after a tepid market response to its sales forecast.
Electronics and technology stocks rose about 12.2%, led by Semiconductor Manufacturing International Corporation, which rose about 4.5%. Other stocks that recorded positive movements included Tencent Holdings (0.1%), AIA Group (1.3%), Meituan (2.8%), Lenovo Group (1.4%), and XPeng Inc. (4.1%).
This movement indicates that investors remain wary of global tensions, but are encouraged by the growth prospects of the technology sector and support from international markets. (asd)
Source: Newsmaker.id
