Hang Seng Weakens Ahead of US-Iran Talks, New IPO Shares Soar
Hong Kong stocks fell on Friday (April 17th), as investors remained cautious ahead of a weekend considered crucial for the direction of the Middle East conflict, following plans for further talks between the United States and Iran.
The Hang Seng Index fell 233.93 points, or 0.9%, to close at 26,160.33. The Hang Seng China Enterprises Index (HSCEI) weakened 60.09 points, or 0.7%, to 8,845.02.
From a geopolitical perspective, US President Donald Trump said the chances of reaching a deal to end the Iran conflict were increasing and that Washington-Tehran talks could resume over the weekend. He also mentioned the potential for an extension of the two-week ceasefire, while Israel and Lebanon reportedly began a 10-day ceasefire following US mediation.
On the stock market, attention was focused on the debuts of new issuers: Gpixel Changchun Microelectronics closed nearly 76% higher at HK$70 from its IPO price of HK$39.88. Manycore Tech surged 144% to HK$18.60 from its IPO price of HK$7.62. (asd)
Source: Newsmaker.id