HK stocks weighed down by bond and war uncertainties
Asian markets were mixed on Friday after recent oil price surges as US and Japanese bond yields hit multi-year highs with no clear end in sight to the Middle East war. In Hong Kong, the benchmark Hang Seng Index fell 251 points, or one percent, to end the day at 24,510 on turnover of HK$102.2 billion. The tech index was 49 points, or 1.1 percent, lower at 4,311 while the China Enterprises Index…
Asian markets experienced mixed results on Friday, as rising oil prices and ongoing concerns over the Middle East conflict influenced investor sentiment. In Hong Kong, the key Hang Seng Index declined by 251 points, or 1%, closing at 24,510 after a trading volume of HK$102.2 billion. Tech stocks also suffered, with the Hang Seng Tech Index losing 49 points, or 1.1%, to reach 4,311.
Meanwhile, the China Enterprises Index dropped 100 points, or 1.2%, to 8,165. Meanwhile, in Tokyo, the Nikkei index experienced its fifth consecutive day of gains, rising by 850 points, or 1.3%, to 66,364, propelled by strong performance in AI-related firms and anticipation of a mid-term dividend deadline. The broader Topix index increased by 53 points, or 1.31%, to 4,128.
Despite a two-month extension of the US-China trade truce leaving several outstanding issues, analysts pointed out that numerous risks remain unresolved and will continue to weigh on markets. Oil prices softened slightly, with Brent crude falling by 0.8% after surging more than 3% on Thursday, extending previous gains. Analysts expressed uncertainty about the future direction of global markets, citing factors such as potential bond market instability and the evolving situation in the Middle East.
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