The Hang Seng Index slipped 1.5% to about 24,589 on Monday, tracking broad declines across Asian markets as mounting geopolitical tensions and higher oil prices weighed on risk appetite. The war involving Iran has entered its fifth week with no resolution in sight, after Iran‑backed Houthi militants in Yemen opened a new front and the United States stepped up its military presence in the region. The developments heightened concerns over a protracted conflict and potential disruptions to global energy supplies.
Rising crude prices intensified inflation pressures, pushing bond yields and the US dollar higher and adding to the drag on equities across Asia. Separately, China–US tensions flared after Beijing objected to a US advisory on Hong Kong’s expanded national security legislation, clouding the regulatory outlook and foreign investor participation.
Among notable decliners were Tencent Holdings (-0.4%), Meituan (-0.9%), Pop Mart International (-0.7%), and Semiconductor Manufacturing International Corporation (-1.22%).
