Hong Kong Stocks Fall on Friday Amid Rising Geopolitical Risks; MOG Digitech Jumps 13%
Hong Kong stocks closed lower on Friday as escalating tensions in the Middle East and fresh U.S. tariff measures weighed on investor sentiment.The Hang Seng Index fell 247.58 points, or 1%, to close at 24,963.23, while the Hang Seng China Enterprises Index lost 81.61 points, or also 1%, to 8,271.06.Investor sentiment weakened as the conflict in the Gulf kept oil prices volatile this month, raising concerns that higher energy costs could fuel inflation and keep interest rates elevated.Markets also reacted to President Donald Trump's announcement of tariffs ranging from 10% to 12.5% on dozens of countries, including the European Union.In corporate developments, MOG Digitech Holdings (HKG:1942) surged more than 13% despite forecasting a first-half net loss attributable to shareholders, compared with a profit a year earlier.HBM Holdings (HKG:2142) gained more than 1% after projecting a first-half profit of up to HK$67 million.
