Hang Seng Rises on Optimism for US-Iran Talks
The Hang Seng Index rose 160 points, or 0.6%, to 25,540 on Friday, recouping the previous session's losses. This gain followed positive sentiment on Wall Street and growing hopes for a possible deal between the US and Iran to end the conflict.
Investors were optimistic after a report showed Iran viewed the latest US proposal as helpful in narrowing differences between the two sides. Hopes for progress in these negotiations boosted market sentiment in Hong Kong.
Local economic data also added support, with April's inflation rate remaining stable at 1.7%, unchanged from the previous month, indicating that price pressures remained contained.
The technology sector surged 12.6%, led by SMIC and Lenovo, which rose 1.7% and 9.5%, respectively. Financial stocks also contributed positively, reflecting investors' shift to more attractive sectors as risk appetite improved.
Other stock movements included Tencent Holdings (+1.1%), AIA Group (+0.4%), Sunny Optical Technology (+1.5%), and Xiaomi Corporation (+1.1%), confirming the broad upward trend in the Hong Kong market. (asd)
Source: Newsmaker.id