Hang Seng Rises Slightly
The Hang Seng Index rose around 0.2% to 23,370 on Wednesday (June 24th). This gain halted five consecutive days of declines, after investors began buying at low prices, or bargain hunting, after the index had previously been under considerable pressure.
Market sentiment also improved following signs of progress in peace talks between the United States and Iran. This eased concerns about disruptions to global energy supplies. Falling oil prices helped mitigate inflation concerns, reinvigorating investor appetite for riskier assets.
Furthermore, stocks related to artificial intelligence and semiconductors continued to attract investor attention. Enthusiasm for the AI sector remained strong, especially after the SK Hynix-based ETF became the largest ETF in Hong Kong by assets. However, the Hang Seng's gains were limited as the market remained cautious about the direction of US interest rates and China's perceived lackluster economic recovery. Some stocks that strengthened included Tencent (up 1.0%), Knowledge Atlas (up 8.9%), SMIC (up 3.2%), and Xiaomi (up 1.7%). (asd)
Source: Newmaker.id
