Hong Kong Stocks Rise as Markets Assess Earnings; Logfor Group Reports Decline in Profit

MT Newswires Live
03/27

Hong Kong stocks ended in the green on Friday, rebounding from the previous session as investors assessed the latest batch of earnings and tracked updates from the Middle East.

The Hang Seng Index rose by around 95.45 points, or roughly 0.4%, to end at 24,951.88, while the Hang Seng China Enterprises Index increased by 63.84 points, or around 0.8%, to close at 8,453.77.

US President Donald Trump decided to delay a deadline on striking Iran's energy assets by 10 days until April 6, citing ongoing and "very positive" negotiations with Tehran. The move, initially a five-day pause, led to a decline in oil prices after recent gains.

The heightened Middle East conflict could impact Asia-Pacific's growth and financing environment, which also faces challenges from U.S. trade policy volatility and AI disruptions, S&P Global Ratings warned.

Meanwhile, Hong Kong's goods export and import values rose 24.7% to HK$408.8 billion and 29.9% to HK$472.9 billion, respectively, year over year in February, according to data released by the city's Census and Statistics Department.

A visible trade deficit of $64.2 billion, equal to 13.6% of import value, was recorded in February.

In corporate news, Longfor Group (HKG:0960) booked 1.02 billion yuan in attributable profit for 2025, falling from 10.4 billion yuan in 2024.

Shares of the property developer closed 4% lower.

Elsewhere, MTT Group (HKG:2350) said its Tritech Distribution unit reached a settlement in a winding-up petition against the firm.

The settlement sum is "substantially less" than the claim amount and the $22.5 million Tritech Distribution was required to submit before it could argue its case with the Hong Kong High Court, MTT Group said.

Shares of the IT firm closed 1% higher.

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