Global Markets Decline Amid Rising Oil Prices and Geopolitical Tensions

The Hang Seng Index fell by 524 points, closing at 25,500 points with a trading volume of 240.3 billion HKD. According to Ming Pao, the escalation of tensions in Iran has led to a rise in oil prices and bond yields. Coupled with U.S. Federal Reserve Chair Jerome Powell's hawkish stance, these factors have contributed to a significant drop in U.S. stocks, influencing global markets to follow suit. In this context, COSCO Shipping Energy Transportation Co., Ltd. (1138) has seen its stock price remain high, supported by elevated freight rates. The company is considered a potential hedge against further geopolitical deterioration.