Hong Kong equities fell 160 points, or 0.6%, to 25,737 in Thursday morning trading, extending the previous session’s losses amid a slump in U.S. stock futures and a renewed rally in oil prices. Investors remained skeptical that the record release of crude reserves would be sufficient to offset the supply shock stemming from the Middle East conflict.
Mainland Chinese markets were also subdued, following reports that the U.S. has launched a new investigation into major trading partners, including China, after the Supreme Court last month struck down a key component of Trump-era tariffs.
All sectors in the Hang Seng Index traded lower. Property and financial stocks each fell more than 1%, while declines in technology and consumer names were more moderate. Among the notable underperformers were Nongfu Spring (-3.8%), Sino Land (-3.2%), Techtronic Industries (-2.6%), and Trip.com (-2.1%). In contrast, Cathay Pacific edged up 0.3% after reporting stronger profits and forecasting double-digit growth in passenger capacity.
