Hong Kong Stocks Pull Back on Yield, Tech Pressures
The Hang Seng Index declined 0.4%, or 92 points, to 24,545 on Tuesday, as investors remained cautious amid higher oil prices, elevated global bond yields and continued weakness in Chinese technology stocks. Brent crude rose 0.6% to around US$106 a barrel amid ongoing Middle East supply concerns, reinforcing inflation and interest-rate worries. Moreover, overnight losses on Wall Street with the 10-year yield rising above 5.2% and the 30-year yield reaching around 5.55%, adding to pressure on global risk assets. Meanwhile, mainland Chinese technology shares remained under pressure after the US moved toward restricting Chinese-made components used in AI data centers, while broader Chinese equities were also hurt by fading optimism following the Trump-Xi meeting. Cautious positioning ahead of China’s National Day holiday also limited risk appetite. Notable laggards included Tencent (-1.2%), AIA (-0.5%), Lenovo (-0.7%), Xiaomi (-1.8%), and Kingboard Laminates (-1.0%).
4%, or 92 points, to 24,545 on Tuesday, as investors remained cautious amid higher oil prices, elevated global bond yields and continued weakness in Chinese technology stocks. 6% to around US$106 a barrel amid ongoing Middle East supply concerns, reinforcing inflation and interest-rate worries. 55%, adding to pressure on global risk assets. Meanwhile, mainland Chinese technology shares remained under pressure after the US moved toward restricting Chinese-made components used in AI data centers, while broader Chinese equities were also hurt by fading optimism following the Trump-Xi meeting.
Cautious positioning ahead of China’s National Day holiday also limited risk appetite. 0%).