Hong Kong Stocks Extend Losses for Third Session

The Hang Seng Index fell 90 points, or 0.4%, to 25,165 on Friday, marking its third consecutive session of losses as weakness in technology and financial shares continued to weigh on sentiment. Hong Kong equities tracked subdued regional trading after weakness in AI-related stocks on Wall Street prompted profit-taking among select technology and semiconductor shares. Investors also remained cautious amid uncertainty surrounding the fragile US-Iran ceasefire, as reports of stalled negotiations contrasted with President Donald Trump's assertions that talks were continuing and nearing completion, leaving markets wary of renewed geopolitical risks in the Middle East. Among the biggest drags on the benchmark were AIA (-3.3%), Lenovo (-4.4%), Hong Kong Exchanges and Clearing (-0.5%), and Semiconductor Manufacturing International Corporation (-3.7%). In contrast, Tencent and Beijing 51WORLD gained 1.3% and 9.2%, respectively.

The Hang Seng Index dipped 380 points, or 1.5%, to close 25,253 on Thursday, extending losses from the previous session as renewed US-Iran clashes dampened risk appetite across global markets. Hong Kong equities tracked overnight declines on Wall Street, where investors turned cautious amid concerns that escalating tensions in the Middle East could threaten a fragile ceasefire and heighten risks to global growth. Despite a reported Israel-Lebanon ceasefire, fresh Iranian and US strikes in the region kept investors cautious. Technology stocks led the downturn, with Lenovo falling 4.4% amid weakness in US technology shares, while financial and retail trade counters also came under pressure. Other notable decliners included Tencent (-1.6%), Semiconductor Manufacturing International (-1.8%), AIA (-6.8%), Pop Mart International (-1.0%), and Meituan (-2.2%). In contrast, Kingboard Laminates and Kuaishou Technology were among the few gainers, advancing 0.4% and 0.3%, respectively.

The Hang Seng Index slipped 405 points, or 1.6%, to close at 25,633 on Wednesday, snapping a two-session rally as investors took profits after recent gains fueled by optimism surrounding artificial intelligence-related investments. Technology stocks led the decline after spearheading yesterday's advance, while financial and retail trade shares also came under pressure. Market sentiment turned more cautious amid escalating geopolitical tensions in the Middle East following reports that Iran's Revolutionary Guards attacked US Fifth Fleet headquarters, an airbase, and helicopters in a regional country, raising concerns over regional stability and potential disruptions to global energy supplies. In corporate front, Ximei Resources plunged as much as 19% after announcing a HK$549 million discounted share placement to fund acquisitions and expand production capacity. Among notable laggards included Tencent (-3.2%), Lenovo (-1.4%), Meituan (-5.9%), Xiaomi (-3.3%), and Kuiashou (-4.3%).