Media365
Hong Kong stocks rebounded on Tuesday on signs of a de-escalation of the US-Israel war on Iran.
The Hang Seng Index rose 1.2 per cent to 24,678.33 as of 9.42am local time. The Hang Seng Tech Index gained 0.3 per cent. On the mainland, the CSI 300 Index climbed 0.1 per cent and the Shanghai Composite Index retreated 0.4 per cent.
Laopu Gold jumped 11 per cent to HK$619.50 and machine tool maker Techtronic Industries surged 9.4 per cent to HK$112.20. Alibaba Group Holding added 1.1 per cent to HK$121 and Tencent Holdings rose 1.4 per cent to HK$505.50.
US President Donald Trump said on Monday that he was withholding assaults on Iranian energy infrastructure for five days, citing “major points of agreement” with Iran. He said special envoys Steve Witkoff and Jared Kushner had held discussions on Sunday evening with a “top person” on the Iranian side, claiming both parties were keen to strike a deal and would talk again by phone.
Two companies made their debut in Hong Kong. Zhejiang Galaxis Technology Group soared 81 per cent to HK$30.14 and Jiangsu New Vision Automotive Electronics rose 1.3 per cent to HK$44.76.
Other major Asian markets all edged higher. Japan’s Nikkei 225 climbed 0.9 per cent, while South Korea’s Kospi rose 1.5 per cent and Australia’s S&P/ASX200 added 0.4 per cent.
