HK stocks weighed down by bond and war uncertainties
Asian markets were mixed on Friday after recent oil price surges as US and Japanese bond yields hit multi-year highs with no clear end in sight to the Middle East war. In Hong Kong, the benchmark Hang Seng Index fell 251 points, or one percent, to end the day at 24,510 on turnover of HK$102.2 billion. The tech index was 49 points, or 1.1 percent, lower at 4,311 while the China Enterprises Index sank 100 points, or 1.2 percent, to 8,165. In Tokyo, the Nikkei rose for a fifth straight session to be up 850 points, or 1.3 percent, to 66,364, driven by gains in AI-related companies and as investors bought ahead of a Monday deadline to qualify for mid-term dividends. The broader Topix climbed 53 points, or 1.31 percent, to 4,128. A two-month extension of a trade truce between the United States and China left several issues unresolved, analysts said, shifting lingering risks into the future. Oil prices eased slightly, with Brent crude shedding 0.8 percent after spiking more than three percent on Thursday to extend previous gains. Global stocks had mostly fallen on Thursday, as the benchmark US 10-year Treasury yield rose to its highest level since 2007, and the 30-year yield reached its...
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