(Hong Kong) The escalating tensions in the Middle East have impacted the financial markets, with the Hang Seng Index opening lower by 75 points or 0.31%, standing at 23,959 points. Concurrently, the H-share index dropped by 41 points or 0.47%, reaching 8,688 points, while the technology index also experienced a decline of 50 points or 0.95%, settling at 5,280 points. In the tech sector, there was a general softening trend, with Tencent showing a minor increase of 0.1%, while Alibaba witnessed a decrease of 1.5%. Similarly, Meituan fell by 1.2%, Xiaomi Group dropped by 0.5%, and Kuaishou experienced a decline of 1.7%.
Financial stocks displayed individual fluctuations, with HSBC Holdings edging up by 0.1%, while Prudential saw no significant change. On the other hand, China Ping An declined by 0.5%, and the Hong Kong Stock Exchange dropped by 0.3%.
Amidst a rapid surge in oil prices, oil stocks followed suit with CNOOC rising by 2.6%, PetroChina by 2.3%, and Sinopec by 0.4%. On the other hand, gold-related stocks performed well, with Zijin Mining Industry seeing a rise of 3%, Zhaojin Mining Industry increasing by 3.8%, and the established gold company seeing a significant surge of 3.9%.
Source: DimsumDaily
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