{
  "id": 14096429,
  "title": "HK stocks slip as tech woes, oil spike weigh on region",
  "url": "https://urgent.news/2026/10/13/hk-stocks-slip-as-tech-woes-oil-spike-weigh-on-region",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-13T02:26:58.000Z",
  "source": {
    "name": "RTHK News - Finance",
    "slug": "rthk-news-finance",
    "url": "https://news.rthk.hk/rthk/en/component/k2/1873708-20261013.htm"
  },
  "original_language": "en",
  "account": "Asian equities experienced a sharp decline on Tuesday as technology shares were hit hard. This decline was fueled by the escalating conflict in the Middle East, which drove oil prices higher and bolstered the US dollar. Hong Kong's Hang Seng Index opened 99 points, or 0.41 percent, lower at 24,172. The China Enterprises Index dropped 32 points, or 0.39 percent, to 8,136, while the Tech Index fell 39 points, or 0.96 percent, to 4,129. The Shanghai Composite Index fell 36 points, or 0.96 percent, to 3,760, and the Shenzhen Component Index plunged 221 points, or 1.79 percent, to 12,163. The ChiNext Index also saw a significant drop of 64 points, or 2.18 percent, to 2,899. Energy prices are once again driving global markets as investors grapple with geopolitical developments in the Middle East and the Russia-Ukraine situation. Brent crude futures reached US$105.9 per barrel, nearing a two-week high. Oil markets have been volatile due to supply risks from attacks on Saudi Arabia and the possibility of additional diesel supplies from Russia. Analyst Charu Chanana from Saxo in Singapore noted that geopolitical factors play a crucial role when they impact inflation. The renewed increase in oil prices is putting pressure on yields and casting a shadow on expensive growth stocks, particularly as the Russia-Ukraine energy truce appears fragile and Middle East supply risks persist. In Tokyo, the Nikkei opened 466 points, or 0.67 percent, lower at 68,564 before falling further to 1,915 points by noon. Seoul's Kospi index dropped 198 points, or 3.1 percent, at 6,186, with tech-heavy stocks suffering losses, particularly chip counters, before the lunch break. Analyst Kyle Rodda of Capital.com attributed much of the decline to the tech selloff on Wall Street overnight, which is now affecting Asia. On Wall Street, the tech-heavy Nasdaq slipped 0.5 percent, led by chipmakers amid concerns over the sustainability of the AI stock rally due to heightened competition between the United States and China. The cautious sentiment contributed to the US dollar approaching an 18-month high. The euro traded at US$1.1157, and the yen was at 158.50 per US dollar.",
  "summary": "Asian equities fell sharply on Tuesday led by technology shares as a widening conflict in the Middle East kept oil prices elevated, supporting the US dollar ahead of an earnings season that will set the tone for the rest of the year. In Hong Kong, the benchmark Hang Seng Index opened down 99 points, or 0.41 percent, at 24,172. The China enterprises index was 32 points, or 0.39 percent, lower at…",
  "key_points": [
    "Hong Kong's Hang Seng Index fell 0.41% to 24,172",
    "Oil prices surged due to Middle East conflict and Russia-Ukraine tensions",
    "Tech Index declined 0.96% as US dollar strengthened"
  ],
  "editors_take": "Rising energy costs and geopolitical instability are punishing expensive growth stocks as investors shift away from technology amid concerns over inflation and a strengthening US dollar.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}