Hang Seng Rebounds 1.8% as Middle East Tensions Ease
Hong Kong stocks rallied on Monday (May 4), with the Hang Seng Index rising around 455 points (1.8%) to 26,233, rebounding from last week's decline. Improved geopolitical developments boosted sentiment and restored risk appetite to the equity market.
Investor confidence strengthened after US President Donald Trump indicated the US would help ensure safe passage for neutral vessels through the Strait of Hormuz. This move eased concerns about prolonged disruptions to global oil shipping routes, which also depressed energy prices and eased inflation concerns.
Additional support came from signs of progress in negotiations with Iran to end the conflict, which entered its 10th week. Hopes of de-escalation improved risk appetite, prompting investors to increase their exposure to regional stocks.
Among the gainers were Tencent (0.6%), Xiaomi (4.6%), SMIC (4.9%), AIA Group (2.4%), and HKEX (1.6%), as buying returned to the market. (asd)
Source: Newsmaker.id