The Hang Seng Index slipped 61 points, or 0.24%, to close at 25,899 on Wednesday, surrendering its early-session gains as selling broadened across all sectors. The decline followed a sharp rally in the previous session, with risk appetite dampened by concerns that the escalating conflict in the Middle East could disrupt global energy flows and trigger a fresh oil price shock.
Investors largely looked past reports that the International Energy Agency is proposing its largest-ever release of strategic oil reserves in an effort to cool crude prices. Sentiment was further constrained by caution ahead of key U.S. inflation data due later in the day, alongside expectations of more hawkish signals from major central banks worldwide.
Worries also intensified that China’s lower 2026 GDP growth target, coupled with resilient export performance, might reduce the urgency for new stimulus measures from Beijing. Sector-wise, property developers and financials led the declines, while technology and consumer names also finished modestly lower.
Notable underperformers included Knowledge Atlas (-6.5%), Haidilao International (-3.6%), Sinotruk Hong Kong (-2.7%), and Meituan (-2.2%).
