HK Stocks Close Lower. HSTECH Falls 1.5%; Li Auto Falls 4%; Meituan down 3%; Alibaba down 2%; Tencent down 1%; Pop Mart up 1.6%
The Hong Kong stocks closed lower on Wednesday as Middle East geopolitical tensions weighed on markets, stoking fear of supply disruptions.
The Hang Seng Index fell 1.1%, and the Hang Seng Tech Index dropped 1.5%.
Li Auto fell 4%; Meituan fell 3%; Nio, Kuaishou, Alibaba, Mixue fell 2%; Tencent down 1%; Xiaomi fell 0.4%; Pop Mart up 1.6%.
On Tuesday, US President Donald Trump called for Iran’s “unconditional surrender” and reportedly met with his national security team to discuss the conflict, fuelling concerns that the US would join Israel’s new round of attacks on Iran.
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