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402 stories mentioning Hang Seng IndexUpdated just now

In focus as Hong Kong sees IPO activity, with Kaifeng Millennium City Park filing and RedNote operator Xiaohongshu reportedly preparing a listing.

Asia

Market Chatter: Thailand's Minor Food Weighs Singapore IPO Instead of Hong Kong

Thailand's Minor International is reportedly weighing a public listing for its restaurant unit, Minor Food Group, in Singapore rather than Hong Kong amid strong interest from investors in the city-state.Bloomberg News reported Thursday, citing sources, that the group, which operates brands including Burger King, Dairy Queen, and The Pizza Company, could raise more than $400 million. Financial advisers are assisting, though no final decision has been made, according to the report.Minor International did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang Seng^SET^STI
Asia

Hong Kong Mortgage Corp Prices HK$12 Billion Inaugural Digital Bonds

The Hong Kong Mortgage Corp (HKMC) priced HK$12 billion of inaugural digital bonds, marking the largest-ever digital bond issue to date.The bonds, priced under a $30 billion medium-term note program, comprised HK$6 billion two-year, HK$2.5 billion five-year, and 3 billion yuan three-year digital bonds, according to a Thursday release on the Hong Kong Monetary Authority website.

Hang Seng
International

Tech-Sector, Persian Gulf Roil Asian Stock Markets

Asian stock markets churned on Thursday, as traders viewed tech-sector gyrations and fresh hostilities in the Persian Gulf.Tokyo inched into the green, but Hong Kong and Shanghai lost ground. Other regional exchanges were also choppy.In Japan, the Nikkei 225 opened lower but eked out a gain, finishing up 0.1% as tech issues firmed after recent declines.The benchmark Nikkei 225 rose 38.00 to 64,217.27, although losing issues outnumbered gainers 141 to 81.Leading the upside was IT conglomerate Toppan, up 15.7%, while vehicle maker Archion declined 6.1%.In economic news, Japan's Business Survey Index for large companies declined to negative 0.5 in Q2 from positive 4.4 in Q1, as enterprises cited rising costs connected to Middle East turmoil, reported the Cabinet Office.In Hong Kong, the Hang Seng Index opened evenly but lost ground, closing down 0.7% as strength in property issues could not offset tech-sector losses.The broad gauge Hang Seng fell 158.67 to 24,249.29, as losing issues outnumbered gainers 62 to 28. The Hang Seng TECH Index lost 1.5% on the day, while the Mainland Properties Index rose 1.2%.Leading the upside was insurer AIA, gaining 5%, while e-commerce colossus Alibaba declined 5.4%.On the mainland, the Shanghai Composite fell 0.2% to 3,987.01.On the other regional exchanges, the South Korean KOSPI rose 0.4%; the Taiwan TWSE declined 0.2%; the Australian ASX 200 declined 0.2%; the Singapore Straits Times Index rose 0.6%, and the Thai Set advanced 0.6%. In late trading in Mumbai, the Sensex was down 0.1%The MSCI All Country Asia Pacific Index fell 0.4% on the day.

Hang SengNikkei 225Shanghai Composite
Asia

Hong Kong Stocks Slide Amid US Sanctions, Middle East Escalation; Alibaba, JD.com Fall on Regulatory Scrutiny

Hong Kong stocks extended losses Thursday as fresh U.S. sanctions on China- and Hong Kong-linked entities over alleged ties to Iran's military and escalating tensions in the Middle East weighed on sentiment.The Hang Seng Index fell 0.7%, or 158.67 points, to close at 24,249.29, while the Hang Seng China Enterprises Index dropped 1.2%, or 101.65 points, to finish at 8,217.08.The U.S. government on Wednesday imposed sanctions on 11 individuals and entities, including several in China and Hong Kong, for allegedly supporting weapons procurement for Iran's Islamic Revolutionary Guard Corps and military.Nine of those targeted were China- and Hong Kong-based individuals and companies, while another Hong Kong firm was accused of operating within Iran's covert banking network, according to the U.S. Treasury.Meanwhile, Washington launched a fresh round of strikes against multiple targets in Iran, according to the U.S. military, prompting Tehran to announce the full closure of the Strait of Hormuz.In corporate news, Alibaba (HKG:9988) closed over 5% lower after Beijing regulators called in major e-commerce platforms over alleged misleading promotions during the annual "618" shopping festival.JD.com (HKG:9618) closed nearly 3% lower after being named among the platforms summoned by regulators.

Hang SengHKG:9618HKG:9988
Asia

Market Chatter: Ant Group-Backed Akulaku Eyes Hong Kong IPO

Ant Group-backed Indonesian fintech Akulaku is considering an initial public offering in Hong Kong that could raise more than $300 million, Deal Street Asia reported Thursday, citing people familiar with the matter.The digital finance platform could debut as soon as July, according to the report.Akulaku previously explored a public listing in 2022, including via a SPAC transaction, but the plan did not proceed.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang Seng
Asia Markets

Tech Hesitation, Geopolitics Blunt Asian Stock Markets

Asian stock markets lost ground on Wednesday as tech shares wavered again, and as traders weighed fresh hostilities in the Persian Gulf.The pending release of the US consumer price index (CPI), slated for Wednesday morning in Washington, and which might influence Federal Reserve policy, also cautioned investors.Hong Kong, Shanghai, and Tokyo finished in the red, as did most other regional exchanges.In Japan, the Nikkei 225 opened lower and could not recover, finishing off 0.7%.The benchmark Nikkei 225 fell 1,237.36 to 64,179.27, as losing issues outnumbered gainers 125 to 99.Leading the upside was property company Mitsubishi Estates, up 5.2%, while semiconductor components maker Taiyo Yuden declined 12.9%.In economic news, Japan's producer price index (PPI) in May rose 0.9% from April and 6.3% on the year, pushed by energy and IT hardware costs, reported the Bank of Japan.In Hong Kong, the Hang Seng Index fell on new US trade sanctions and geopolitical concerns, closing down 0.6%.Market sentiment was bruised after the US Department of Defense on Tuesday expanded its blacklist of Chinese companies, including names such as e-commerce colossus Alibaba, automaker BYD, and search-engine giant Baidu, due to alleged military links.The broad gauge Hang Seng fell 157.94 to 24,407.96, although gaining issues outnumbered losers 53 to 29. The Hang Seng TECH Index lost 0.9% on the day, while the Mainland Properties Index rose 0.7%.Leading the upside was Geely Automobile, gaining 4%, while computer maker Lenovo declined 9.4%.On the mainland, the Shanghai Composite fell 0.4% to 3,993.23.In economic news, China's consumer price index rose 1.2% on the year in May, reported the National Bureau of Statistics (NBS).The nation's producer price index gained 3.9% on the year in May, boosted by energy bills, according to the NBS.On the other regional exchanges, the tech-heavy South Korean KOSPI fell 4.5% while the Taiwan TWSE declined 3.3%.The Australian ASX 200 inclined 0.6%; the Singapore Straits Times Index fell 1.3%, and the Thai Set declined 1.3%. In late trading in Mumbai, the Sensex was up 0.1%.The MSCI All Country Asia Pacific Index fell 2.1% on the day.

Hang SengNikkei 225Shanghai Composite
Asia

Asia-Pacific NBFIs Face Controlled Refinancing Risk in 2026, Fitch Says

Asia-Pacific's emerging market nonbank financial institutions (NBFIs) should observe controlled refinancing risk this year, Fitch Ratings said.Most issuers' near-term funding profiles continue to be stable amid ample domestic liquidity, solid bank funding access, and predominantly solid shareholder or government support, Fitch said.The rating agency's view comes even as the entities face modestly higher refinancing needs and unstable offshore funding conditions due to the Iran conflict.The sector's greater dependence on short-term funding compared to other regions reflects specific business models rather than weaker refinancing ability, according to Fitch.Offshore US dollar issuance could still provide gains in 2026 amid tighter market access due to high funding costs, volatile yields, and geopolitical risks, Fitch said.Greater-than-expected tightening in domestic liquidity, resurgent upward pressure on US dollar yields, or expanding credit spreads serve as risks for the sector, the rating agency said.

ASX 200Hang SengNikkei 225Shanghai Composite^SZSE
Asia

Hong Kong Stocks Fall as U.S.-Iran Hostilities Escalate; WuXi AppTec Gains on Buyback Plan

Hong Kong stocks declined on Wednesday as Iran and the United States engaged in their biggest exchange of hostilities since a ceasefire was agreed in April.The Hang Seng Index fell 0.6%, or 157.94 points, to close at 24,407.96, while the Hang Seng China Enterprises Index was little changed, slipping 5.86 points, to finish at 8,318.73.Iran's Revolutionary Guards said they launched missile and drone attacks on U.S. military facilities in Jordan, Kuwait, and Bahrain, describing the strikes as retaliation for Washington's recent attacks against Iranian targets near the Strait of Hormuz.The attacks followed comments by U.S. President Donald Trump that Iran had shot down an Apache helicopter near the strategic waterway a day earlier.Meanwhile, closer to home, China's producer price inflation accelerated to 3.9% in May from 2.8% in April, matching market expectations.Annual consumer inflation, however, remained at 1.2%, below the consensus forecast of 1.3%, while core inflation, which excludes food and energy prices, eased to 1.1% from 1.2% a month earlier.In corporate news, Laekna (HKG:2105) closed nearly 2% lower after granting Vasque Bio exclusive rights to develop and commercialize its cancer drug candidate LAE118 outside Greater China under a licensing agreement.WuXi AppTec (HKG:2359, SHA:603259) gained over 3% in Hong Kong after its board approved a proposed buyback of up to 1 billion yuan of A-shares.

Hang SengHKG:2105HKG:2359SHA:603259
International

Tech Revival Lifts Asian Stock Markets

Asian stock markets gyrated higher Tuesday on overnight Wall Street cues, as traders sought tech-sector values after recent bear moves.Shanghai and Tokyo finished in the green, although Hong Kong edged lower. Other regional exchanges largely gained ground.Seoul's KOSPI Index rebounded upwards by 8.2%, after an 8.3% divot on Monday, as semiconductor-giants SK Hynix and Samsung Electronics led gainers.In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 2.2% as investors waded back into AI-related shares after three trading days of decline in semiconductor-exposed shares.The benchmark Nikkei 225 rose 1,392.03 to 65,416.63, as gaining issues outnumbered losers 125 to 98.Leading the upside was semiconductor-components supplier Taiyo Yuden, up 20%, while materials-house Mitsui Kinzoku declined 4.6%.In economic news, Japan's machine tool orders in May rose 37.4% on year, reported the Japan Machine Tool Builders Association.In Hong Kong, the Hang Seng Index opened lower, waffled, but closed down 0.4% as declines in finance and retail shares offset firming in tech and property issues.The broad gauge Hang Seng fell 91.16 to 24,565.90, as losing issues outnumbered gainers 62 to 27. The Hang Seng TECH Index gained 0.3% on the day, while the Mainland Properties Index rose 0.1%.Leading the upside was natural-gas supplier ENN, gaining 3.5%, while shipping line Orient Overseas declined 5.2%.On the mainland, the Shanghai Composite rose 1.3% to 4,010.03.In economic news, mainland China's exports rose 19.4% on year in May, and imports increased by 27.4%, largely driven by AI and tech-hardware demand, reported the Customs Administration.On the other regional exchanges, the Taiwan TWSE inclined 2.8%; the Australian ASX 200 declined 0.2%; the Singapore Straits Times Index rose 1.2%, and the Thai Set inclined 1.4%. In late trading in Mumbai, the Sensex was up 0.5%.The MSCI All Country Asia Pacific Index rose 2.5% on the day.

Hang SengNikkei 225Shanghai Composite
Asia

Hong Kong Stocks End Mixed; Alibaba, Baidu Push Back on Pentagon List

Hong Kong stocks ended mixed Tuesday as investors weighed a fragile Israel-Iran truce and fresh Pentagon scrutiny of major Chinese companies.The Hang Seng Index fell 0.4%, or 91.16 points, to close at 24,565.90, while the Hang Seng China Enterprises Index slipped 0.2%, or 16.77 points, to finish at 8,324.59.Oil prices settled higher after swinging sharply during Monday's session, when both Iran and Israel indicated they would halt attacks following an appeal from U.S. President Donald Trump.Tehran, however, warned it could resume military action if Israel continued strikes against Hezbollah in Lebanon, signaling the fragility of the truce.In corporate news, the Pentagon added several major Chinese companies, including Alibaba, Baidu, BYD (HKG:1211, SHE:002594), and Nio, to a list of entities it alleges have links to China's military.Alibaba (HKG:9988), Baidu (HKG:9888), and Nio (HKG:9866) rejected the designation, saying they were neither Chinese military companies nor participants in China's military-civil fusion program.The companies also said the move would not have a material impact on their operations.Alibaba closed over 1% lower, while Baidu and Nio ended nearly 1% higher.

Hang SengHKG:1211HKG:9866HKG:9888HKG:9988SHE:002594
International

Tech Rout Visits Asian Stock Markets

Asian stock markets joined the global tech rout on Monday, after declines last week in semiconductor shares on Wall Street, and on concerns the Federal Reserve may soon raise rates after the strong US jobs report on Friday.Investors sentiments were also undercut by media reports of fresh hostilities in the Persian Gulf.Brent crude prices rose 3.3% to $96.16 a barrel, during trading hours.Hong Kong, Shanghai and Tokyo finished in the red, as did other regional exchanges. Seoul's tech-heavy KOSPI index fell 8.3%, following on a 5.5% decline logged on Friday.In Japan, the Nikkei 225 opened lower and could not recover, finishing off 3.9% lower.The benchmark Nikkei 225 fell 2,563.52 to 64,024.60, as losing issues outnumbered losers 162 to 61.Leading the upside was entertainment-house Toho, rising 6.8%, while silicon wafer-maker Sumco declined 12.8%.In economic news, Japan's Q1 gross domestic product (GDP) expanded by an annualized real 1.8%, down from an initially reported increase of 2.1%, reported the Cabinet Office.In Hong Kong, the Hang Seng Index opened lower and waffled thereafter, closing down 1.2% as traders backed away from property and tech issues.The broad gauge Hang Seng fell 304.89 to 24,657.06 as losing issues outnumbered gainers 63 to 24. The Hang Seng TECH Index lost 2.7% on the day, while the Mainland Properties Index fell 1.7%.Leading the upside was China Mengniu Dairy, gaining 3.1%, while search-engine giant Baidu declined 7.6%.On the mainland, the Shanghai Composite fell 1.7% to 3,959.34.On the other regional exchanges, the Taiwan TWSE declined 3.5%; the Singapore Straits Times Index fell 1.7%, and the Thai Set declined 1.3%. In late trading in Mumbai, the Sensex was down 1%. Trading floors in Sydney were closed on holiday.The MSCI All Country Asia Pacific Index fell 3.2% on the day.

Hang SengNikkei 225Shanghai Composite
Asia

Hong Kong Stocks Decline Amid Tech Selloff; Shanghai Junshi Biosciences Slips on Oncology Venture

Hong Kong stocks fell Monday as a technology-led selloff gathered pace after stronger-than-expected U.S. jobs data and renewed military tensions between Israel and Iran weighed on sentiment.The Hang Seng Index shed 1.2%, or 304.89 points, to close at 24,657.06, while the Hang Seng China Enterprises Index lost 1.1%, or 95.27 points, to finish at 8,341.36.The robust U.S. jobs report prompted traders to increase bets on a Federal Reserve rate hike later this year, triggering a selloff in technology stocks.Markets are now pricing in a 72% probability of a rate hike by December, according to CME Group's FedWatch tool.Meanwhile, Israel and Iran exchanged strikes for the first time since their ceasefire took effect, raising fresh doubts about the durability of the truce.The escalation came after U.S. President Donald Trump said Sunday that renewed military action by either side would not derail Washington's peace talks with Tehran.Brent crude rose more than $4 a barrel on Monday, extending gains as renewed hostilities heightened concerns over regional stability.Shanghai Junshi Biosciences (HKG:1877, SHA:688180) closed 3% lower after saying it will contribute intellectual property and pre-clinical oncology assets to a newly established joint venture, Shanghai OnTarget Biopharmaceuticals, in exchange for a 14.55% stake.

Hang SengHKG:1877SHA:688180
International

Asia Week Ahead: Inflation Prints; GDP Estimates; and Trade Balance

For the week ahead in Asia, inflation, trade and growth data will be in focus as investors assess the region's economic momentum.The week opens with Japan's revised first-quarter GDP figures, followed by trade data from China and Taiwan on Tuesday.Mid-week, China's consumer and producer inflation reports will dominate headlines, while Japan will release producer price data.Thursday will be led by unemployment figures from South Korea and Malaysia, before Friday brings India's inflation report.Here's what to watch in the week ahead.MONDAY, June 8The week was off to a relatively light, but notable start with Japan's first-quarter GDP growth rate.Japan's economy expanded at an annualized rate of 1.8% in the first quarter, according to final data released by the Cabinet Office. The reading was revised down from the preliminary estimate of 2.1% growth, but exceeded the market consensus forecast for a 1.3% increase, according to Trading Economics.The data comes as attention turns to the Bank of Japan's June 15-16 policy meeting, where policymakers are expected to consider another interest-rate increase. The growth figures are unlikely to derail expectations for further policy tightening.TUESDAY, June 9Data readouts will pick up Tuesday, starting with China's trade figures for May.Economists at ING said they expect China's exports to rise 19.5% year-on year and imports to gain 36.4% for a trade surplus of $86.5 billion. The surplus would be an increase from the $84.8 billion recorded in April, thanks in part to higher tech prices, which are boosting both export and import prices, ING said.Taiwan will similarly report trade figures, with ING expecting the island nation's trade surplus to rise to $15.5 billion from $14.4 billion in April. "Strong export orders from previous months suggest external demand remains robust amid the AI boom," ING said in a preview.Markets will be watching for any revisions to South Korea's first-quarter GDP growth rate when the Bank of Korea releases its final estimate on Tuesday.The central bank's advance estimate indicated that South Korea's real GDP increased 3.6% annually and 1.7% on a quarterly basis.In Australia, a pair of reports will capture business and consumer sentiment, while in the Philippines, unemployment stats will be due.Other key data scheduled for the day include Japan's machine tool orders.WEDNESDAY, June 10China's consumer and producer price inflation will dominate headlines Wednesday.Consumer prices are expected to show an uptick of 1.3% year on year in May from 1.2% a month prior, reflecting higher manufacturers' input and output prices due to the Middle East conflict, the Wall Street Journal reported.Japan will similarly report its May producer prices, with analysts expecting the PPI to accelerate to 5.5% year on year from 4.9% in April, according to a Trading Economics consensus.Indonesia will release its May consumer confidence report on the same day.THURSDAY, June 11Unemployment data from South Korea and Malaysia will be the highlight of the day.According to Trading Economics, South Korea's unemployment rate could remain unchanged at 2.80% in May. The platform similarly forecasted that Malaysia's unemployment would remain steady at 2.90%, a level it has held since November 2025.A forward-looking report on consumer inflation expectations will be due in Australia. According to Trading Economics, consumer inflation expectations could rise to 6.5% for June from the 5.6% estimated in May.Meanwhile, Indonesia will report its retail sales stats for April.FRIDAY, June 12India's May inflation data will be in the news Friday.Economists at ING said they expect consumer prices to pick up to 3.9% year on year from the 3.48% recorded in the month prior due to a rise in gasoline prices. Still, the figure would be below the Reserve Bank of India's 4% target."The key risk to the outlook lies in potential second-round effects on food inflation. Fertiliser shortages, alongside the rising probability of an El Niño event, could exert upward pressure on food prices in the coming months and warrant close monitoring," ING said in a preview.Friday will also feature industrial production reports from Japan, Malaysia, and Hong Kong, with Malaysia additionally reporting its retail sales stats for April.In Thailand, the consumer confidence report for May will be due.On the activity front, the Business NZ manufacturing purchasing managers' index report will be due in New Zealand. CommBank said it expects manufacturing activity in May to stabilize, or even lift somewhat, given a decline in fuel prices over late April and May.The Business NZ PMI previously dropped to 50.5 in April from 52.8 in March.

ASX 200^BSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSENifty 50^NZ50^PSEI^SETShanghai Composite^SZSETaiwan Weighted
Asia

Market Chatter: HKMA Implements Mainland Client Account Guidelines for Banks

The Hong Kong Monetary Authority said banks have implemented guidelines similar to new regulatory requirements imposed on brokers for managing accounts held by mainland Chinese customers, Bloomberg News reported.The measures are intended to ensure the account-opening process remains compliant and orderly, according to the report, adding that applications from mainland customers continue to be processed smoothly.The move comes as Beijing steps up efforts to curb illicit cross-border capital flows and tighten oversight of overseas financial activities by mainland residents, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang Seng
International

Tech Retreat, Persian Gulf Outlook Blunt Asian Stock Markets

Asian stock markets staged a retreat Friday, as traders warily eyed rich tech-sector valuations, overnight declines on Wall Street, and ongoing Middle East hostilities.Hong Kong, Shanghai and Tokyo finished in the red, as did other regional exchanges.Seoul's tech-centric KOSPI Index closed down 5.54%, tracking Thursday's decline in US semiconductor stocks, after US chipmaker Broadcom (AVGO) projected Q3 AI-related revenue would miss market expectations.In Japan, the Nikkei 225 opened lower and could not recover, finishing off 1.3% as traders also edged away from high-flying tech issues.The benchmark Nikkei 225 fell 882.57 to 66,588.12, although gaining issues outnumbered losers 129 to 95, as declines were concentrated in tech- and AI-related issues.Leading the upside was Japan Steel Works, up 9%, while silicon wafer-maker Sumco declined 7.4%.In economic news, average nominal wages in Japan rose 3.5% year over year in April, and gained 1.9% in real terms, reported the Ministry of Health, Labor and Welfare.In Hong Kong, the Hang Seng Index opened lower and declined thereafter, closing down 1.2%.The broad gauge Hang Seng fell 291.45 to 24,961.95, as losing issues outnumbered gainers 57 to 26. The Hang Seng TECH Index lost 1.8% on the day, while the Mainland Properties Index fell 0.9%.Leading the upside was shipping line Orient Overseas, gaining 6%, while Semiconductor Manufacturing International declined 7.2%.On the mainland, the Shanghai Composite fell 0.7% to 4,027.74.On the other regional exchanges, the Taiwan TWSE declined 1.3%; the Australian ASX 200 declined 0.7%; the Singapore Straits Times Index fell 0.4%, and the Thai Set declined 0.8%. In late trading in Mumbai, the Sensex was down 0.1%The MSCI All Country Asia Pacific Index fell 1.6% on the day.

Hang SengNikkei 225Shanghai Composite$AVGO
International

Hong Kong's Forex Reserves Rise to $446.5 Billion in May

Hong Kong's official foreign currency reserve assets rose to $446.5 billion as of the end of May, the Hong Kong Monetary Authority said in a Friday release.The total was higher than the $442.1 billion recorded at the end of April.The reserve assets represent over five times the currency in circulation, or about 38% of Hong Kong dollar M3.

Hang Seng
Asia

Hong Kong Stocks End Week in Red; Three Firms Make Market Debut

Hong Kong stocks plunged Friday as tensions in the Middle East showed no signs of letting up and investors booked profits ahead of the weekend.The Hang Seng Index fell by around 291.45 points, or roughly 1.2%, to end at 24,961.95, while the Hang Seng China Enterprises Index decreased by 65.28 points, or around 0.8%, to close at 8,436.63.Investment sentiment in Asia was tepid as semiconductor stocks slumped on Wall Street after Broadcom's AI chip sales guidance fell short of market expectations.Investors were cautiously optimistic after U.S. President Donald Trump said that ceasefire negotiations are in their "final" stages, though Iran's foreign minister had earlier described the talks as stalled, according to media reports.Meanwhile, regional investors continue to withdraw capital from Hong Kong in favor of technology bets elsewhere, The South China Morning post reported.According to the report, mainland investors became net sellers last month after selling HK$3.6 billion worth of Hong Kong stocks, the first monthly outflow in three years."Conversations with market participants reveal that regional investors have been selling their positions in Hong Kong to fund purchases of regional tech names in South Korea, Taiwan and Japan," Richard Tang, head equity research analyst for Asia at Julius Baer, was quoted as saying.In corporate news, three firms made their market debut with mixed performances.LongBio Pharma (HKG:1779) shares closed at HK$131.80 each, 37% above their initial public offering price of HK$96.06 in a strong Hong Kong debut.Dajin Heavy Industry (HKG:1081, SHE:002487) remained flat after closing at HK$66.40 per share, matching its IPO price, while Lung Fung Group (HKG:2290) closed at HK$2.81 per share, 45% below its IPO price of HK$5.18 in a tepid Hong Kong debut.

Hang SengHKG:1081HKG:1779HKG:2290SHE:002487
International

Persian Gulf Gloom Darkens Asian Stock Markets

Asian stock markets fell back Thursday on overnight Wall Street cues and after media reports of fresh hostilities between US and Iranian forces, including a fresh barrage unleashed by Tehran upon the Kuwait International Airport.Hong Kong, Shanghai and Tokyo finished in the red, as did most other regional exchanges, on the dimming outlook for a settlement that could re-open the Strait of Hormuz, the sea passageway vital to Asian Pacific crude supplies.In Japan, the Nikkei 225 opened lower and could not recover, finishing off 1.3% as traders weighed Middle East war reports against rich tech-sector valuations.The benchmark Nikkei 225 fell 931.44 to 67,470.69, as losing issues outnumbered gainers 166 to 56.Leading the upside was semiconductor manufacturing equipment maker Disco, up 5.1%, while tech financier SoftBank declined 11.3%.In Hong Kong, the Hang Seng Index opened lower and drifted south, closing off 1.5%.The broad gauge Hang Seng fell 379.81 to 25,253.40 as losing issues outnumbered gainers 75 to 12. The Hang Seng TECH Index lost 1.6% on the day, while the Mainland Properties Index fell 0.9%.Leading the upside was toolmaker Techtronic, gaining 1.7%, while Contemporary Amperex Technology declined 7%.On the mainland, the Shanghai Composite fell 0.6% to 4,057.78.On the other regional exchanges, the South Korean KOSPI fell 1.8%; the Taiwan TWSE declined 1.7%; the Australian ASX 200 declined 1.1%; the Singapore Straits Times Index fell 1.4%, but the Thai Set advanced 0.4%. In late trading in Mumbai, the Sensex was steady.The MSCI All Country Asia Pacific Index fell 1.7% on the day.

Hang SengNikkei 225Shanghai Composite
Asia

Hong Kong Stocks Extend Losses Amid Middle East Flare-Up; Luye Pharma Proposes Debt Offering

Hong Kong stocks extended losses Thursday as a flare-up in Middle East tensions hurt risk appetite.The Hang Seng Index fell by around 379.81 points, or roughly 1.5%, to end at 25,253.40, while the Hang Seng China Enterprises Index decreased by 94.68 points, or around 1.1%, to close at 8,501.91.Renewed hostilities between the US and Iran jolted investor confidence across Asian markets Thursday, Reuters reported. The overnight clashes, which involved Kuwait and Bahrain, mark the most significant escalation since a ceasefire took effect in early April and threaten to undermine ongoing US-Iran talks over extending the truce and reopening the Strait of Hormuz.Elsewhere, China slammed the U.S. for alleging the use of forced labor in the country as a pretext for additional tariffs."There is no such thing as 'forced labor' in China, and we oppose using this as a pretext for political manipulation," Beijing's Foreign Ministry Spokesperson Mao Ning said in a regular press briefing.The Office of the United States Trade Representative recently proposed additional taxes on imports from 60 regions, including China and Hong Kong, over forced-labor trade practices, calling for a 10% additional tariff for economies that have partially enforced bans on the importation of certain forced labor goods, and a 12.5% tariff for all others.In local development, Hong Kong's Exchange Fund is seeking investment managers for a mandate tied to the S&P 500 Index, Bloomberg News reported.The HK$4.3 trillion fund has been reviewing proposals in recent months and is looking for a low-tracking-error strategy that closely mirrors the benchmark's performance, according to the report.In corporate news, Luye Pharma (HKG:2186) proposed issuing $180 million of 5.25% convertible bonds due 2031 and concurrently repurchasing its outstanding $180 million 6.25% convertible bonds due 2028.The company's shares closed nearly 15% lower.

Hang SengHKG:2186
Asia

China Slams Proposed US Tariffs, Denies Forced Labor Claims

China denied the presence of forced labor in the country, slamming the U.S. for using probes on the issue as a pretext for additional tariffs, Beijing's Foreign Ministry Spokesperson Mao Ning said Wednesday."There is no such thing as 'forced labor' in China, and we oppose using this as a pretext for political manipulation," Mao said in a regular press briefing.Beijing has "consistently opposed all forms of unilateral tariff measures," Mao said.She also called on the U.S. to use dialogue to resolve trade issues.Section 301 inquiries by the U.S. found that 60 economies, including China and Hong Kong, failed to impose forced import prohibitions, according to a report by the U.S. Trade Representative released June 2.Following the investigation, the USTR proposed a 12.5% tariff on China, among other countries mentioned in the report.

Hang SengShanghai Composite^SZSE

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