June 13, 2025: The escalating geopolitical tensions in the Middle East rattled financial markets today, leading to a cautious start on the Hong Kong Stock Exchange.
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The Hang Seng Index opened lower by 75 points (0.31%), standing at 23,959 points, while the H-share index declined 41 points (0.47%) to 8,688 points. The technology sector also took a hit, dropping 50 points (0.95%) to close at 5,280 points.
Tech Stocks See Mixed Movements
Within the tech space, stocks experienced mixed performances.
- Tencent edged up slightly by 0.1%, showing resilience amid the uncertainty.
- However, major players such as Alibaba (-1.5%), Meituan (-1.2%), Xiaomi Group (-0.5%), and Kuaishou (-1.7%) recorded declines, reflecting a general softening trend in the sector.
Financial Stocks Show Divergence
Financial stocks demonstrated varied reactions:
- HSBC Holdings nudged upward by 0.1%.
- Prudential remained largely flat.
- Meanwhile, China Ping An (-0.5%) and the Hong Kong Stock Exchange (-0.3%) saw modest declines.
Oil and Gold Stocks Rally on Price Surge
Amid the geopolitical tension-driven spike in oil prices, oil-related stocks enjoyed gains:
- CNOOC climbed 2.6%
- PetroChina rose 2.3%
- Sinopec increased by 0.4%
Gold stocks also attracted investor interest as a safe haven asset, with strong performances from:
- Zijin Mining Industry (+3%)
- Zhaojin Mining Industry (+3.8%)
- A leading gold company surged 3.9%