Hang Seng Index Holds Steady, Oil Rises Pressure Risk-Off Sentiment
The Hang Seng Index remained largely unchanged on Monday (April 27), edging up around 0.2% to 26,010, after initial volatility eased and the market shifted to a more cautious stance. Sentiment was dampened by rising geopolitical tensions and disruptions in the energy market.
Oil prices surged to a new high after stalled US-Iran peace talks left the Strait of Hormuz still impassable. This situation fueled concerns about longer supply constraints and heightened global inflation risks, undermining risk appetite in equity markets.
Rising energy costs are seen as delaying expectations of monetary policy easing, making investors more defensive about the interest rate outlook. Globally, US stock futures also edged lower ahead of a busy week of central bank meetings and the earnings season for major issuers.
In Hong Kong, the bourse lagged behind some of its regional peers as the market held positions while reassessing the direction of interest rates. However, semiconductor stocks continued their gains from the previous session, resisting further pressure on the index.
Among individual stocks, gains were led by SMIC, which surged 6.0%. Other stocks that moved positively included AIA Group (+1.4%), Lenovo (+1.3%), and Shenzhen Xunce Technology (+1.4%).(asd)
Source: Newsmaker.id
