Hong Kong stocks set for biggest weekly loss since April on trade, Mideast jitters
20 June 2025 09:22
SHANGHAI (REUTERS)Hong Kong stocks rebounded on Friday after three sessions of losses but remained on track for their biggest weekly loss since April, as Sino-US trade talks and Middle East tensions weighed on investor sentiment. Mainland China shares edged higher.China's blue-chip CSI300 Index climbed 0.2% by the lunch break while the Shanghai Composite Index gained 0.1%. Hong Kong benchmark Hang Seng was up 1.2%.China kept its benchmark lending rates unchanged, after rolling out sweeping monetary easing measures last month to support the economy.Amid uncertainties related to China-US trade friction, onshore share valuations may be range-bound at low levels near term, said UBS strategist Lei Meng in a note."We expect limited downside, and potential upside catalysts mainly from stronger policy easing, the continual entry of medium or long-term funds and structural reforms," Meng said.Israel and Iran's conflict entered a second week and fears of a potential US attack on Iran hung over markets in Asia, impacting overall risk sentiment.
The Hang Seng Index was down 1.6% this week, on track for the largest decline since April 7, if losses hold. The CSI300 Index was down 0.3%.
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