Hang Seng Drops 1%, Geopolitical Risks Weigh on Sentiment
The Hang Seng Index weakened for a third day on Friday, dropping 270 points, or 1.0%, to 25,645, as risk appetite remained limited amid geopolitical uncertainty and mixed global indicators. The market also appeared to be taking profits after the previous session's gains.
Sentiment was influenced by Middle East developments, after Trump said Israel and Lebanon would extend a three-week ceasefire, but concerns persisted as US-Iran negotiations remain stalled and the risk of escalation remains. Rising oil prices for a fifth day also reinforced concerns about inflation and supply risks, including potential disruptions to flows through the Strait of Hormuz.
In Hong Kong, the decline also followed overnight declines on Wall Street, with major stocks under pressure. Laggards included Tencent (-1.3%), AIA Group (-0.1%), Geely Automobile (-1.8%), Akeso (-1.9%), and Kingboard Laminates (-3.6%). (asd)
Source: Newsmaker.id