Hang Seng Jumps 2.4% After US-Iran Ceasefire
Hong Kong stocks rallied sharply on Wednesday, with the Hang Seng Index rising 707 points, or 2.4%, to 25,725. This gain reversed a 0.7% decline in the previous session and brought the index to its highest level this week, as investor sentiment in the region improved.
The rally was driven by improved risk appetite following the two-week ceasefire agreement between the United States and Iran, which eased fears of military interference and reopened the Strait of Hormuz. These developments also pressured crude oil prices and supported a rebound in Asian equities, helping to extend the gains across sectors in the Hong Kong market.
Domestically, trading resumed after the Easter holiday with attention focused on structural drivers such as the surge in IPO activity in Hong Kong, where more than 40 issuers have listed this year. Nearly all sectors strengthened, led by financial, technology, and consumer stocks, with key movers including Tencent (3.1%), Xiaomi (2.9%), Pop Mart (4.3%), Meituan (5.9%), and AIA Group (6.3%). (asd)
Source: Newsmaker.id
