Hang Seng Falls 0.8% as Investors Await U.S. CPI
The Hang Seng Index closed 0.8% lower at 25,440 on Wednesday as fading hopes for a U.S.-Iran agreement and caution ahead of the latest U.S. inflation data weighed on investor sentiment.
Higher oil prices also added pressure after crude climbed to a one-week high amid continued tensions surrounding the Strait of Hormuz. The move revived concerns over inflation and global growth, while losses on Wall Street in the previous session further weakened sentiment in Hong Kong.
Technology stocks remained under pressure as investors closely watched Tencent’s second-quarter earnings for signs of growth in gaming, advertising, and artificial intelligence investment. Tencent fell around 2%, Meituan dropped 1.5%, Xiaomi declined 1.1%, and Kuaishou lost 2.6%.
Meanwhile, plans to expand the Hang Seng Tech Index from 30 to 50 constituents remained in focus. The move could increase the index’s exposure to emerging sectors such as artificial intelligence and robotics.
Hong Kong’s IPO market also continued to attract attention, with Shein reportedly preparing for a listing in the city. The development helped support optimism over capital-market activity despite the broader market weakness.(mrv)
Source : Newsmaker.id
