Hong Kong Stocks Fall to Six-Week Low

The Hang Seng Index fell 1.2%, or 300 points, to around 24,970 on Thursday, as escalating Middle East tensions and surging oil prices weighed on investor sentiment. Brent crude extended its rally above US$100 a barrel after Iran said it was prepared for a more intense conflict, raising concerns over disruptions to energy flows through the Strait of Hormuz. The US 10-year Treasury yield also climbed to around 4.86%, its highest level since November 2023, while Wall Street stocks fell for a third straight session. Investors remained cautious ahead of key US inflation data that could influence the Federal Reserve’s interest-rate outlook. Notable laggards included Tencent (-1.5%), Z.AI Co. (-4.3%), MiniMax (-2.4%), Xiaomi (-1.8%) and Meituan (-2.0%). Meanwhile, Hong Kong’s technology sector continued to attract investor interest amid a strong IPO pipeline, with AI startup Moonshot having confidentially filed for a Hong Kong listing and DeepSeek preparing for a possible domestic IPO.




