Hong Kong Stocks Flat Despite Wall Street Rally

The Hang Seng Index was little changed at 25,880 on Wednesday, as gains from a positive Wall Street lead were offset by weaker Chinese economic data and renewed concerns over US-China technology tensions. Overnight, US heaveyweights closed at record highs after renewed hopes for a breakthrough in US-Iran talks boosted risk appetite, sending oil prices sharply lower and easing inflation concerns. However, sentiment in Hong Kong remained subdued after China’s latest PMI that showed both services activity and overall private-sector growth slowed in July, raising fresh doubts about the strength of the economic recovery. Chinese optical stocks weakened, with Zhongji Innolight among the biggest decliners, reflecting renewed concerns over escalating US-China technology restrictions. While notable gainers were SMIC (4.4%), Z.AI Co. (5.6%), Lenovo (6.5%), Kingboard Laminates (4.1%), and Techtronic Industries (7.7%).





