Investment 16/3/2026

Concerns about a protracted US-Iran conflict led to a three-day decline in Hong Kong stocks, with the Hang Seng Index falling nearly 2% cumulatively. The index opened 133 points lower at 25,583 on Friday and fluctuated, falling as much as 296 points to a low of 25,419. It closed down 251 points, or 0.98%, at 25,465. The technology index fell 49 points, or 0.99%, to 4,978. Turnover exceeded HK$246.5 billion.


Geopolitical risks in the Middle East are spilling over into the international financial industry. Among the top five decliners among Hong Kong blue chips on Friday was HSBC Holdings (00005), whose share price closed at HK$122.5, a daily low and year-to-date low, down HK$6.40 or 4.96%. This single stock dragged down the Hang Seng Index by 97 points, with a cumulative decline of nearly 10% over three trading days. This is likely due to HSBC's largest presence in the Middle East among major European banks, potentially putting pressure on its profitability.


Navigation through the Strait of Hormuz is hampered, and persistently high oil prices have dashed hopes for a March rate cut by the Federal Reserve, with little chance of a reduction before the end of the year. Hong Kong stocks are expected to be weak this week, with the Hang Seng Index hovering between 24,900 and 26,300 points. Support at 24,900 points could be a good entry point for medium- to long-term investors.


European stock markets were weak, with the UK, French, and German stock markets closing down 0.43%, 0.91%, and 0.6% respectively.


The Financial Times reported that European countries are negotiating with Iran to allow passage through the Strait of Hormuz, causing Brent crude oil prices to fall from their highs. Coupled with a downward revision of US fourth-quarter economic growth leading to lower bond yields, US stocks initially rebounded on Friday, but later, news that US President Trump believed continued heavy airstrikes against Iran were necessary dragged down US stocks. The Dow Jones Industrial Average opened slightly higher by 11 points, then extended its gains to a maximum of 446 points, reaching a high of 47,123. It subsequently fluctuated, falling as much as 183 points to a low of 46,494. The S&P 500 initially rose 0.91%, while the tech-heavy Nasdaq Composite gained 0.94%, but both ultimately turned negative.


At the close of trading, the Dow Jones Industrial Average fell 119 points, or 0.26%, to 46,558; the S&P 500 dropped 40 points, or 0.61%, to 6,632; and the Nasdaq Composite declined 206 points, or 0.93%, to 22,105.


For the week as a whole, the Dow Jones Industrial Average fell 1.99%, the S&P 500 declined 1.6%, and the Nasdaq Composite fell 1.26%.


The US dollar index climbed back above 100, rising as much as 0.76% to 100.5; the euro fell 0.84%, hitting a July low of $1.1417; the yen dropped 0.22%, reaching a low of 159.7 against the dollar, its lowest level since July 2024. Bitcoin surged as much as 5.56%, reaching a high of $73,927, while spot gold prices briefly plunged 1.37%, hitting a low of $5,009.74 per ounce.


[Image caption: Jürgen Habermas, the German philosophical giant who dedicated his life to defending democracy through rational dialogue, passed away on the 14th at the age of 96.]

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Investment 24/4/2026

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Investment 27/4/2026

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