Hong Kong Stocks Slip for Third Consecutive Day

The Hang Seng Index fell 270 points, or 1.0%, to 25,645 on Friday, extending its losing streak to a third session as risk appetite remained subdued amid persistent geopolitical uncertainty and uneven global cues. Sentiment was influenced by developments in the Middle East, where Donald Trump said Israel and Lebanon would extend their ceasefire by three weeks, providing some temporary relief but doing little to ease concerns over stalled US-Iran negotiations and the broader risk of escalation. Oil prices advanced for a fifth straight session reinforcing worries about prolonged supply risks and inflation pressures. Concerns that tensions could disrupt flows through key shipping routes, including the Strait of Hormuz, further dampened sentiment. Moreover, in Hong Kong, it opened lower following overnight losses on Wall Street. Notable laggards included Tencent Holdings (-1.3%), AIA Group (-0.1%), Geely Automobile (-1.8%), Akeso (-1.9%), and Kingboard Laminates (-3.6%).

The Hang Seng Index fell 248 points, or 1%, to close at 25,915 on Thursday, reversing gains from the previous session as investors locked in profits and adopted a more cautious stance ahead of key macroeconomic data. Sentiment was shaped by a mixed global backdrop. While US equities were supported by strong corporate earnings and improved risk appetite, regional markets remained more restrained as investors weighed geopolitical uncertainty linked to the US-Iran standoff and its potential impact on energy flows through the Strait of Hormuz. Elevated oil prices continued to fuel inflation concerns, keeping risk sentiment in check across Asian markets. Locally, attention is focused on Hong Kong’s March inflation data, which could offer fresh signals on price pressures and influence expectations for monetary conditions. Among notable laggards were Tencent Holdings (-1.8%), Xiaomi Corporation (-1.9%), SMIC (-1.4%), Akeso (-12.7%), and Pop Mart (-2.9%).

The Hang Seng Index fell 324 points, or 1.2%, to close at 26,163 on Wednesday, snapping a two-session winning streak as investors turned cautious amid a mixed global backdrop. The extension of the US-Iran truce provided limited relief but did not fully ease uncertainty, with stalled talks and continued disruption to key oil shipping routes keeping risk sentiment subdued. Rising oil prices added inflation concerns, while global cues were uneven. In Hong Kong, CATL dropped 4.2% after a major shareholder sold a large block via an accelerated placement at a discount, triggering profit-taking and weighing on EV and tech sentiment. China Unicom fell about 2.4% after weaker-than-expected earnings, with profit and revenue declines sparking a sharp selloff. Major laggards included Tencent Holdings (-2.9%), SMIC (-1.3%), Meituan Class (-2.5%), Xiaomi (-1.9%), Pop Mart (-2.6%). Investors also awaited inflation data due tomorrow for signals on interest rates and global monetary policy direction.