Hong Kong stocks extend winning streak amid stabilising oil prices despite Iran conflict Hong Kong stocks rose for a third consecutive day on Wednesday, driven by investor confidence in overnight gains on Wall Street and the stabilization of oil prices, even as geopolitical tensions in the Middle East persisted. The Hang Seng Index climbed 0.6 percent to 26,025.42 at the close of trading, marking its longest winning streak since January 29. The Hang Seng Tech Index remained largely unchanged, while mainland Chinese indices also saw modest gains, with the CSI 300 Index rising 0.5 percent and the Shanghai Composite Index gaining 0.3 percent. Several key stocks outperformed, including Alibaba Group Holding, which surged 2.3 percent to HK$137.70, and Baidu, which climbed 2.2 percent to HK$121.80. Pop Mart International, a blind-box toymaker, advanced 3 percent to HK$221.80, while food-delivery giant Meituan rose 0.4 percent to HK$80.30. However, some companies faced declines, such as Tencent Music Entertainment Group, which dropped 22 percent to HK$44.72 after its fourth-quarter results missed expectations. Electric-vehicle makers BYD and Li Auto also saw declines, with BYD falling 2.2 percent to HK$102.20 and Li Auto slipping 6.2 percent to HK$66.85. The rally in Hong Kong markets followed a rebound in U.S. stock indices, where the S&P 500 and Nasdaq 100 posted gains, extending their upward trends. Meanwhile, oil prices stabilized after a slight drop, with Brent crude falling about 1 percent to trade below US$102 a barrel. The decline came after Iran confirmed the death of a senior security official, which raised concerns about regional stability.#hong_kong #hang_seng_index #alibaba_group_holding #baidu #pop_mart_international
