Hong Kong Stocks Advance Despite Iran Tensions

The Hang Seng Index rose 0.8%, or 192 points, to 24,367 on Monday, as gains in technology and property stocks outweighed renewed geopolitical concerns. Investor sentiment remained cautious after oil prices climbed and US equity futures slipped following fresh US strikes on Iran, while uncertainty surrounding the status of the Strait of Hormuz kept markets on edge. In Hong Kong, property shares found support as major developers, including Sun Hung Kai Properties and Wheelock Properties, prepared new residential launches this month despite expectations for more moderate home price gains. Moreover, fast-fashion giant Shein cleared a key regulatory hurdle for its planned Hong Kong IPO after receiving approval from China’s securities regulator, raising expectations for one of the city’s largest listings in recent years. Notable gainers included Sun Hung Kai Properties (1.1%), Tencent (0.7%), Knowledge Atlas (4.9%), Techtronic Industries Co. (0.7%), and Lenovo (0.9%).

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