28.05.202601:53:57UTC+00Hong Kong Stocks Extend Decline

The Hang Seng Index declined 333 points, or 1.3%, to 24,990 on Thursday, dragged down by weakness in financials, technology services, and retail stocks as investors turned cautious amid mixed signals over a potential US-Iran deal to end the conflict. Reports highlighting uncertainty about the progress of the negotiations undermined regional sentiment, while higher crude oil prices, after recent gains in energy markets, further eroded risk appetite. Major decliners included Tencent Holdings (-1.2%), Xiaomi Corporation (-1.3%), Meituan (-3.2%), and AIA Group (-3.7%). Losses were partly offset by resilience in electronic technology shares, which edged up 0.3%, with Semiconductor Manufacturing International Corporation and Pop Mart International climbing about 4.2% and 6.5%, respectively. Investors also awaited the release of Hong Kong’s latest trade figures later in the day.