Hong Kong Stocks Face Pressure Amid Uncertain Middle East Situation

Hong Kong's stock market faced renewed pressure following two days of gains, as uncertainty in the Middle East and disappointing earnings from major blue-chip stocks weighed on investor sentiment. According to Ming Pao, the Hang Seng Index fell by over 500 points at one point, ending its two-day rally and dropping below the significant 25,000-point level and the 250-day moving average, often referred to as the 'bull-bear line.' Kuaishou Technology saw its stock price plummet by 14% after major financial institutions lowered their target prices following its earnings report. Meanwhile, Pop Mart International Group, a new consumer stock, continued its decline, with a cumulative drop of over 30% in two days.