Hang Seng Continues to Weaken, Iran Risks and Oil Volatility Weigh on Sentiment
The Hang Seng Index fell 0.4% to around 24,753 on Friday, extending losses from the previous session as Middle East tensions continued to weigh on risk appetite following a sharp sell-off on Wall Street. Investors remained cautious despite US President Donald Trump extending Iran's deadline for a deal by 10 days, as the direction of the conflict remains unclear.
Sentiment weakened after reports that the US was considering deploying up to 10,000 additional troops to the Middle East, raising concerns about prolonged instability. In energy markets, Brent fluctuated before stabilizing around US$107/barrel, remaining high due to supply disruptions related to the Strait of Hormuz. Persistent energy prices reinforced inflation concerns and weighed on risk assets globally.
Technology and consumer staples stocks were under pressure again. Among the early decliners, AIA Group fell 3.39%, Tencent fell 0.9%, Meituan fell 0.6%, and Techtronic Industries fell 0.9%, reflecting the market's still defensive conditions.
Source: Newsmaker.id