STOCKS | Hong Kong Shares Fall As U.S. Confirms Fresh Strikes On Iran

Hong Kong stocks fell at midday after the U.S. confirmed fresh strikes on Iran and Iran retaliated against U.S. military facilities in the Middle East, according to ETNet. The Hang Seng Index was down 256 points, or 1%, at 25,310, with the 100-day moving average around 25,231 seen as support. Mainboard turnover was nearly HK$133.2 billion. The Hang Seng China Enterprises Index fell 0.6% to 8,460, while the Hang Seng Tech Index slipped 0.8% to 4,584. U.S. Treasury yields rose again overnight and Wall Street declined as investors worried about an escalation in Middle East tensions. Alibaba fell 3.59%, Tencent dropped 2.3%, JD.com lost 2.85% and Meituan declined 1.46%. Baidu fell 2.65% after its dual primary listing conversion took effect, while Kuaishou rose 4.82% after its Kling unit completed financing and was said to be preparing for a listing. China Resources Land, Longfor Group and China Overseas Land & Investment also fell, while China Hongqiao Group and Chalco gained on trading interest in aluminium stocks. Zhipu rose 2.93% after reporting strong quarterly revenue, and MiniMax climbed 6.48%.