HSI falls as Brent surges past US$100
Brent oil broke above US$100 a barrel on Wednesday as oil prices surged and stocks struggled on the back of a fresh flare-up in the Middle East crisis, putting upward pressure on inflation ahead of key US data at the end of the week. In Hong Kong, the Hang Seng Index gave up 42 points to close at 25,274. The Hang Seng China Enterprises Index dipped 0.34 percent to 8,369, and the Hang Seng Tech…
The Hang Seng Index in Hong Kong slipped 42 points to 25,274 following Brent oil breaching the US$100 mark, as market concerns mounted over the Middle East tension's impact on global inflation. Other Chinese indices also experienced slight declines. Mainland stocks saw gains, with the Shanghai and Shenzhen Components indexes up 0.28 percent and 0.15 percent, respectively.
Japan's Nikkei 225 index fluctuated throughout the trading day, ending 0.19 percent lower at 65,142. South Korea's Kospi index, however, closed 1.4 percent higher at 7,051, marking its highest level since July. Analysts note growing anxiety among investors regarding the potential need for the US Federal Reserve to raise interest rates to curb escalating consumer price inflation.
Written by urgent.news from RTHK News - Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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