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International

Hong Kong SME Sentiment Deteriorates in March Amid Middle East Conflict

Business sentiment among Hong Kong's small and medium-sized enterprises deteriorated during March.The current diffusion index on business receipts amongst SMEs fell to 44.3 in March from 45.3 in February, data released by the city's Census and Statistics Department on Tuesday showed.The outlook index for April stood at 46.9. Readings above 50 indicate expansion, while those below signal contraction.A government spokesman said business sentiment "eased somewhat" in March, reflecting the heightened geopolitical tensions in the Middle East.According to the spokesman, both the current and outlook diffusion indices declined from the near two-year highs witnessed in the preceding month."Geopolitical tensions in the Middle East will likely continue to influence local business sentiment, though the sustained expansion of the economy will provide support," the spokesman said in a statement.

Hang Seng
Asia

Hong Kong Stocks Rebound on Shifting US-Iran Diplomatic Hopes; Wai Chun Surges 341%

Hong Kong stocks rebounded Tuesday as investors bet on easing Middle East tensions amid signs of continued engagement, despite the U.S. move to block Iranian ports after weekend talks collapsed.The Hang Seng Index gained 211.47 points, or 0.8%, to close at 25,872.32, while the Hang Seng China Enterprises Index added 69.55 points, or 0.8%, to 8,671.61.After talks in Islamabad broke down over the weekend, a U.S. official said engagement was continuing and progress toward an agreement was still being made, Reuters reported.Pakistani Prime Minister Shehbaz Sharif also said efforts to resolve the conflict were ongoing.Meanwhile, U.S. President Donald Trump said Monday that Iran had made contact and was seeking a deal, but ruled out any agreement that would allow Tehran to possess nuclear weapons.Signs of diplomatic engagement eased pressure in energy markets, with oil prices slipping in Asian trade.In corporate news, Wai Chun (HKG:1013) advanced nearly 341% after entering into a cooperation agreement with Xavvi U.S. to establish a platform company targeting the global creator economy.Voyah Automotive Technology (HKG:7489) closed 8% higher after saying its controlling shareholder, Dongfeng Motor Group, plans to increase its stake in the business.

Hang SengHKG:1013HKG:7489
International

Middle East Escalation Could Cost Asia Up to $299 Billion, UNDP Warns

The ongoing military escalation in the Middle East could inflict economic losses of up to $299 billion across Asia and the Pacific, as higher fuel, freight and input costs ripple through regional economies, UNDP's latest assessment report release Tuesday showed.The report said the shock is weakening household purchasing power, increasing food insecurity, straining public budgets and undermining livelihoods, particularly in countries heavily reliant on imported energy and food, as well as those exposed to Gulf trade routes, labor markets and remittance flows.It estimated that under a 28-day disruption scenario, regional output losses could range between $97 billion and $299 billion, equivalent to 0.3% to 0.8% of GDP, with South Asia facing the most pronounced impact.Around 8.8 million people across 14 countries could fall into poverty, including more than 5 million in Iran, where the poverty rate may rise from 36% to 41.5%, according to the simulations.The report, prepared as of April 9, draws on inputs from 22 UNDP country offices covering 36 countries, alongside modelling and external data. It noted that outcomes will depend heavily on the duration and intensity of the conflict, with risks rising further if disruptions persist.

^BSE^DSE^HNX^HOSEHang Seng^JKSEFTSE Bursa Malaysia KLCI^KOSDAQKOSPINikkei 225Nifty 50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted^YSX
Asia

HKEX Unveils New Tech Indices Spanning Hong Kong, US, Korea

Hong Kong Exchanges and Clearing (HKG:0388) launched two technology-focused indices spanning Hong Kong, the U.S., and South Korea, according to a Monday press release.The HKEX KRX Semiconductor Index tracks Hong Kong-listed chip firms eligible for Southbound Stock Connect alongside leading South Korean semiconductor companies.The HKEX Tech & US Tech 100 Index combines constituents of the HKEX Tech 100 Index with the 100 largest Nasdaq-listed technology companies by market capitalisation.The exchange said the benchmarks are designed to enable cross-market exposure and support ETF development.HKEX also signed agreements with Bosera Asset Management (International), Da Cheng International Asset Management, E Fund Management (Hong Kong), GF International Investment Management, and Huatai-PCG Asset Management to launch ETFs tracking the indexes.

Hang SengHKG:0388
Asia

Hong Kong Adopts Conservative Approach in Stablecoin Push, S&P Says

The granting of licenses to two stablecoin issuers in Hong Kong points to a conservative approach for regulators, S&P Global Ratings said in a recent release.Regulators have chosen banks, rather than less-regulated players, to be the face of the development of stablecoins in Hong Kong, with the first licenses granted to Hong Kong and Shanghai Banking and Anchorpoint Financial, a joint venture led by Standard Chartered Bank, S&P said.These banks will be able to offer issuance, trading, lending, investment, and payments on a single platform, gaining strong network effects and creating user stickiness, according to credit analyst Will Hay.Stablecoins could anchor the creation of a broader digital asset market in the city given its mutual connection with tokenization, S&P said.Wealth management could offer opportunities, with stable coin-linked products or digital assets expanding banks' product offerings and fee pools and mainland Chinese clients exploring crypto products, the rating agency said.On the other hand, cheaper cross-border settlement options using stablecoins could be disruptive for banks, according to S&P.

Hang Seng
International

Oil Goes Up, Asian Stock Markets Go Down

Asian stock markets fell back and oil prices rose after US President Donald Trump said the US will block the Strait of Hormuz, after ceasefire negotiations between Washington and Tehran collapsed over the weekend.Hong Kong and Tokyo finished in the red, while Shanghai inched into the green. Other regional exchanges largely declined, with Bangkok closed on holiday.In Japan, the Nikkei 225 opened lower and could not recover, finishing off 0.7% as traders weighed rising oil prices.Brent crude traded near $103 a barrel, up 8% from Friday. About 40% of oil consumed in the Asian Pacific passes through the Persian Gulf.The benchmark Nikkei 225 fell 421.34 to 56,502.77, as losing issues outnumbered gainers 157 to 63.Leading the upside was advertising-PR shop Dentsu, gaining 10.1%, while plumbing-fixtures maker Toto declined 7.2%.In other news, the Japanese national government approved another $4 billion of funds to state-backed Rapidus for R&D on advanced chips, bringing the total to over $14 billion in assistance, as Tokyo seeks reliable supply of semiconductors, reported The Mainichi newspaper.In Hong Kong, the Hang Seng Index opened lower and traded sideways, closing down 0.9% as traders weighed Persian Gulf turmoils.The broad gauge Hang Seng fell 232.69 to 25,660.85, as losing issues outnumbered gainers 64 to 22. The Hang Seng TECH Index lost 0.8% on the day, while the Mainland Properties Index fell 0.5%.Leading the upside was EV-maker BYD, gaining 5% on reports of strong sales, while JD Health International declined 9.4%.On the mainland, the Shanghai Composite rose 0.1 % to 3,988.56.On the other regional exchanges, the S. Korean KOSPI fell 0.9%; the Taiwan TWSE inclined 0.1%; the Australian ASX 200 declined 0.4%, and the Singapore Straits Times Index fell 0.1%. In late trading in Mumbai, the Sensex was down 1%The MSCI All Country Asia Pacific Index fell 0.9% on the day.

Hang SengNikkei 225Shanghai Composite
Asia

S&P Sees Divergence in Asian Tech Firms' Cost Absorption Ability Amid Middle East Conflict

The Middle East conflict reveals gaps in the capacity of Asian technology companies to buffer against increased costs, S&P Global Ratings said in a Monday release.The rating agency considers high-end chip producers as faring well when increasing prices, backed by favorable demand and solid investment in AI data centers.However, consumer electronics have the weakest ability to pass through costs, while electronics manufacturers would also be exposed to dampened demand under a protracted war, S&P said.In S&P's base-case scenario, under which the Strait of Hormuz's closure eases in April, its rated technology firms in the region have solid financial ability to cushion against the impacts, credit analyst Cathy Lai said.A prolonged conflict would hit larger tech firms' supply chain and impact electronic product makers' margins and demand, Lai said.Most producers, as well as logistics companies, will be vulnerable under disruption to power supply and some key raw materials, S&P said.Regions reliant on liquefied natural gas and oil imports from Qatar and other Middle Eastern countries house most advanced semiconductor manufacturers, with Taiwan being the most vulnerable, the rating agency said.For crucial raw materials, helium is the most susceptible given its use in semiconductor manufacturing, although S&P believes leading companies have ample helium inventory to offset near-term risk.Companies with solid supply chains and investment in the AI market will potentially retain their credit profiles, while those dependent on commoditized consumer segments will see greater pressure, Lai said.

ASX 200Hang SengNikkei 225Shanghai Composite^SZSE
Asia

Hong Kong Stocks Fall as US Moves to Blockade Iranian Ports; Joy Spreader Surges on AI Tie-Up

Hong Kong stocks declined on Monday as investors grew cautious after U.S.-Iran talks collapsed, with plans to blockade Iranian ports adding to uncertainty.The Hang Seng Index fell 232.69 points, or 0.9%, to close at 25,660.85, while the Hang Seng China Enterprises Index dropped 52.98 points, or 0.6%, to 8,602.06.U.S. President Donald Trump said Sunday that the Navy would begin blockading the Strait of Hormuz, putting a fragile two-week ceasefire at risk.The U.S. Central Command said the blockade, set to begin on Monday, will apply to all vessels entering or leaving Iranian ports and coastal areas.Meanwhile, Iran's Islamic Revolutionary Guard Corps warned that any military vessels approaching the strait would be treated as violating the ceasefire and met with a decisive response.The escalating tensions rippled through commodity markets, with oil prices climbing above $100 a barrel, while gold slipped to a near one-week low as a stronger dollar weighed on demand.In corporate news, Joy Spreader (HKG:6988) surged nearly 99% after partnering with Beijing Volcano Engine Technology to deploy artificial intelligence across its operations.Meanwhile, Victory Giant Technology (HKG:2476, SHE:300476) launched a Hong Kong listing to raise up to HK$17.5 billion, moving ahead with one of the city's largest listings this year despite Middle East-driven market volatility.

Hang SengHKG:2476HKG:6988SHE:300476
Asia

Middle East Conflict Indirectly Impacts Asia-Pacific Insurers, S&P Says

The Middle East conflict indirectly impacts Asia-Pacific insurers mostly through financial market volatility, S&P Global Ratings said in a recent release.The rating agency expects risks to be manageable under its base-case scenario of the war peaking and the Strait of Hormuz's closure easing during April.S&P expects the insurers to have ample capital buffers to cushion against investment and underwriting stresses from the conflict under the base-case scenario.However, risks could exacerbate under further disruption in the oil markets, with insurers from low-income net energy-importing economies the most exposed, S&P said.Possible losses for the region's insurers will stem from marine and cargo policies given Middle Eastern trade flows, although the segment accounts for a small portion of overall premiums, S&P said.A protracted conflict would raise input costs for insurers, dampen the macroeconomic environment, and worsen living costs, according to credit analyst Philip Chung.Meanwhile, nonlife insurers would face increased claims expenses in motor, property, and commercial lines, leading to increased premiums, the analyst said.

ASX 200Hang SengNikkei 225Shanghai Composite^SZSE
Asia

HSBC, StanChart-led JV Granted Hong Kong Stablecoin Licences

Hong Kong granted its first batch of stablecoin licences to HSBC (HKG:0005) and a joint venture led by Standard Chartered (HKG:2888) called Anchorpoint Financial, according to a statement on Friday.Both firms plan to complete the necessary preparation work to launch the business in the coming few months, according to the Hong Kong Monetary Authority."We hope [the firms'] promotion of regulated stablecoins will address pain points in financial and economic activities, create value for both individuals and businesses, and support the healthy development of digital assets in Hong Kong," HKMA Chief Executive Eddie Yue said in a statement.

Hang SengHKG:0005HKG:2888
Asia

Trump Declares Immediate U.S. Navy Blockade of Hormuz After Iran Talks Fail

U.S. President Donald Trump warned on social media that the U.S. Navy would immediately begin blockading all ships attempting to enter or leave the Strait of Hormuz after a failed talk with Tehran.Trump said in a Truth Social post on Sunday that while the goal is eventually to reach an "all being allowed to go in, all being allowed to go out" arrangement, Iran has prevented this by citing vague concerns about undisclosed mines."Iran has not allowed that to happen by merely saying, 'There may be a mine out there somewhere,' that nobody knows about but them," Trump wrote.Trump further directed the Navy to intercept any vessel in international waters that has paid a toll to Iran while also ordering the destruction of mines allegedly laid by Iran in the strait and warning that any Iranian attack on U.S. or peaceful vessels would result in them being "BLOWN TO HELL."Meanwhile, Reuters News, citing the U.S. Central Command, reported that the blockade of all maritime traffic to and from Iranian ports is set to begin at 10 a.m. ET on Monday.The command clarified that freedom of navigation would remain unaffected for ships transiting the strait to non-Iranian ports, with formal notices to be issued to commercial mariners beforehand, the newswire said.

^BSE^HNX^HOSE^Hang Seng^JKSEFTSE Bursa Malaysia KLCI^KOSDAQKOSPINikkei 225^NSE^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
International

Ceasefire Prospects Lift Asian Stock Markets

Asian stock markets gained ground Friday, after media reports that US-Iran ceasefire negotiations will take place on Saturday in Pakistan.Hong Kong, Shanghai and Tokyo finished in the green, as did most other regional exchanges.Brent oil futures held under $100 a barrel, near $96 during Asian trading hours.In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 1.8% as traders weighed a profit report from a major retailer and mulled Middle East peace prospects.The benchmark Nikkei 225 rose 1,028.79 to 56,924.11, although losing issues outnumbered gainers 146 to 75.Leading the upside was Fast Retailing, up 12% after reporting H1 earnings and issuing upbeat guidance. Consultancy BayCurrent declined 5.8%.In economic news, Japan's producer price index (PPI) rose 2.6% on year in March, after rising 2.1% on year in February, pushed by higher oil bills, reported the Bank of Japan.In Hong Kong, the Hang Seng Index opened higher and held ground, closing up 0.6% after an inflation report from Beijing suggested the nation's bout with industrial-price deflation may be ebbing.The broad gauge Hang Seng rose 141.14 to 25,893.54 as gaining issues outnumbered losers 56 to 31. The Hang Seng TECH Index gained 0.8% on the day, while the Mainland Properties Index rose 0.4%.Leading the upside was Contemporary Amperex Technology, gaining 9%, while noodle-maker Tingyi declined 3.3%.On the mainland, the Shanghai Composite rose 0.5% to 3,986.22.In economic news, China's producer price index (PPI) rose 0.5% on year in March, snapping a 41-month stretch of contraction, reported the National Bureau of Statistics.China's consumer price index (CPI) rose 1% in March on year, slipping February's 1.3% reading, added the NBS.On the other regional exchanges, the S. Korean KOSPI rose 1.4%; the Taiwan TWSE inclined 1.6%; the Australian ASX 200 declined 0.1%; the Singapore Straits Times Index rose 0.3%, and the Thai Set inclined 1.2%. In late trading in Mumbai, the Sensex was up 1.2%The MSCI All Country Asia Pacific Index rose 0.7% on the day.

Hang SengNikkei 225Shanghai Composite
Asia Markets

Hong Kong Stocks End in Green as Investors Track US-Iran Talks; Haidilao Chairman to Increase Stake in Firm

Hong Kong stocks closed marginally higher Friday as investors held out hope for a breakthrough in the upcoming peace talks between Iran and the U.S.The Hang Seng Index rose by around 141.14 points, or roughly 0.6%, to end at 25,893.54, while the Hang Seng China Enterprises Index increased by 43.21 points, or around 0.5%, to close at 8,655.04.U.S. and Iranian delegations arrived in Islamabad on Friday ahead of crucial talks beginning Saturday that could pave the way for a definitive peace treaty between the two sides.However, tensions lingered between both sides, as Israel continued attacks on Lebanon while Washington accused Iran of failing to re-open the Strait of Hormuz as promised.In corporate news, Haidilao International (HKG:6862) said its chairman and controlling shareholder Zhang Yong plans to increase his stake by no less than HK$100 million within 12 months.Shares of the restaurant operator gained nearly 3%.Pateo Connect Technology (Shanghai) (HKG:2889) entered a framework agreement to develop embodied intelligence with the Graduate School of AI Operating System of Shanghai Jiao Tong University.Shares of the smart cockpit solutions provider closed almost 4% lower.

Hang SengHKG:2889HKG:6862
Asia Markets

Middle East War Uncertainty Caps Asian Stock Markets

Asian stock markets largely fell back Thursday, as traders looked for clarity on the status of the Strait of Hormuz and the Persian Gulf war.Hong Kong, Shanghai, and Tokyo finished in the red, while other regional exchanges were mixed.In Japan, the Nikkei 225 opened evenly but declined in trading, finishing off 0.7% as traders booked profits after Wednesday's rally following reports of a Middle East ceasefire.The benchmark Nikkei 225 fell 413.10 to 55,895.32, as losing issues outnumbered gainers 169 to 54.Leading the upside was Yokogawa Electric, up 4.1%, while retail conglomerate Aeon declined 8.2%.In economic news, Japan's seasonally adjusted Consumer Confidence Index declined to 33.3 in March, down from 39.7 in February, reported the Cabinet Office.Japan's machine tool orders jumped by 28.1% year-on-year in March, driven by a 40.4% surge in offshore demand, reported the Japan Machine Tool Builders Association.In Hong Kong, the Hang Seng Index opened lower and could not recover, closing down 0.5% on ebbing optimism regarding Middle East negotiations.The broad gauge Hang Seng fell 140.62 to 25,752.40 as losing issues outnumbered gainers 53 to 36. The Hang Seng TECH Index lost 2.1% on the day, while the Mainland Properties Index fell 0.3%.Leading the upside was aluminum producer China Hongqiao, gaining 5.2%, while property company Longfor declined 5.6%.On the mainland, the Shanghai Composite fell 0.7% to 3,966.17.On the other regional exchanges, the South Korean KOSPI fell 1.6%; the Taiwan TWSE rose 0.3%; the Australian ASX 200 gained 0.2%; the Singapore Straits Times Index fell 0.4%, and the Thai Set inclined 0.3%. In late trading in Mumbai, the Sensex was down 1.2%.The MSCI All Country Asia Pacific Index fell 0.9% on the day.

Hang SengNikkei 225Shanghai Composite
Asia Markets

Hong Kong Stocks Fall As US-Iran Ceasefire On Thin Ice; Two Firms File For IPO

Hong Kong stocks closed lower Thursday as optimism over the Middle East ceasefire faded and signs emerged that the temporary truce between the U.S. and Iran was fraying.The Hang Seng Index fell by around 140.62 points, or roughly 0.5%, to end at 25,752.40, while the Hang Seng China Enterprises Index decreased by 65.48 points, or around 0.8%, to close at 8,611.83.Iran accused Israel of violating the ceasefire agreement Tehran reached with the U.S. earlier this week after Tel Aviv bombed targets in the southern suburbs of Beirut, southern Lebanon and the eastern Bekaa Valley. Israel said the air strikes hit more than 100 Hezbollah command centers and military sites in 10 minutes.U.S. Vice President JD Vance is set to lead a delegation to Islamabad to formalize a peace deal with Iran. The country's parliament speaker Mohammed Bager Qalibaf said a bilateral ceasefire or negotiations were "unreasonable" amid Israeli hostilities.Meanwhile, Hong Kong's private sector firms saw a renewed deterioration in operating conditions in March amid declines in output and total new business, S&P Global said in a monthly report.The reduction came following a historically strong five-month expansion period. Panelists said the Middle East conflict lowered sales amid a dampened consumer confidence and spending, as well as stock market performance.In corporate news, two firms filed to go public in Hong Kong.Chinese cloud-native spatial design software provider Manycore Tech (HKG:0068) is looking to raise up to HK$1.22 billion via the sale of 160.6 million shares at an indicative price range of HK$6.72 to HK$7.62 per share.Net proceeds will be used mainly to support international expansion, including building global sales teams and strengthening marketing across key overseas markets.Meanwhile, Gpixel Changchun Microelectronics (HKG:3277) is seeking to raise about HK$2.60 billion via the sale of offering 65.3 million H-shares at an indicative price of HK$39.88 per share.Net proceeds will be used primarily to fund research and development, including investments in next-generation CMOS image sensor technologies.

Hang SengHKG:0068HKG:3277

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