Asian Markets Rise Amid Middle East Tensions Easing

Asian stock markets experienced an upward trend as tensions in the Middle East showed signs of easing, leading to a decline in oil prices and a rise in gold prices. According to Ming Pao, U.S. futures and Asian stocks moved higher, with Japanese, Korean, and Taiwanese markets climbing over 2%. However, Hong Kong's Hang Seng Index fluctuated, briefly dropping 48 points in the afternoon. The Chinese State Administration for Market Regulation's statement on ending the 'food delivery wars' led to a significant rise in Meituan's shares, which surged over 10%. This, along with gains in Alibaba and JD.com, contributed nearly 200 points to the Hang Seng Index. Meanwhile, Pop Mart International saw its shares plummet by as much as 23%, marking an 11-month low and the largest drop in that period, with trading volume increasing fourfold to a record high of 24.4 billion yuan. Despite attempts by the CEO to reassure the market, the stock closed down 22%. Overall, financial, industrial, real estate, resource, and consumer stocks generally rose, while energy stocks declined.