Hang Seng Down, Hong Kong Market Remains Cautious Ahead of Major Events
The Hang Seng Index weakened for a second day on Tuesday (April 28), dropping 72 points or 0.3% to 25,850. Sentiment remained cautious amid lingering geopolitical tensions and mixed external indicators, leaving limited room for market upside.
Oil prices held near new highs as the US weighed Iran's proposal, while flows in the Strait of Hormuz remained constrained. This kept market attention focused on the risks of global supply disruptions and inflationary pressures, which in turn curbed risk appetite, including in the Hong Kong market.
Regionally, Asian markets hovered near recent highs but lacked a clear direction as investors tended to stay on the sidelines ahead of major technology earnings reports and a series of central bank decisions. This uncertainty also limited the Hang Seng's upward momentum despite relatively stable regional sentiment.
On the corporate front, Contemporary Amperex Technology Co. Limited (CATL) priced its $5 billion Hong Kong share offering at the lower end of its target range, indicating adequate but selective investor interest. In individual stocks, pressure came from Tencent (-1.0%), SMIC (-1.3%), and Xiaomi (-1.1%).(asd)
Source: Newsmaker.id
