Hong Kong Stocks Jump on Iran-Israel Truce
Hong Kong stocks jumped on Tuesday amid a slide in global oil prices after US President Donald Trump claimed a tentative ceasefire between Iran and Israel, fuelling risk appetite and easing concerns about the disruption of global oil supply.
The Hang Seng Index and the Hang Seng Tech Index both rose 2.1%.
In terms of star stocks, Li Auto and Xiaomi rose 4%; Pop Mart, BYD, XPeng, Kuahsou, and NetEase rose 3%; Bilibili and Alibaba rose 2%; JD.com. Tencnet, Baidu, and SMIC rose 1%; while Meituan fell 1%; Laopu Gold fell 2%.
U.S. President Donald Trump announced on Monday a complete ceasefire between Israel and Iran, potentially ending the 12-day war that saw millions flee Tehran and prompted fears of further escalation in the war-torn region.
Israel, joined by the United States on the weekend, has carried out attacks on Iran's nuclear facilities, after alleging Tehran was getting close to obtaining a nuclear weapon.
"On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, 'THE 12 DAY WAR'," Trump wrote on his Truth Social site.
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