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Hang Seng slips as Brent crude tops $100 amid Strait of Hormuz fears
Hong Kong’s Hang Seng fell 0.17% to 25,274, as Brent moved above $100 for the first time in nearly six weeks on renewed Middle East supply disruption concerns.
Hong Kong’s Hang Seng index ended Wednesday, Sept. 9, lower as rising crude oil prices heightened worries about possible deeper disruptions to energy supplies linked to tensions in the Strait of Hormuz, LiveMint Markets reported. The benchmark recovered much of its intraday losses but still slipped 0.17% to close at 25,274, extending its losing streak to three sessions and taking the weekly decline to 1.47%.
The oil move followed Brent breaking above $100 per barrel for the first time in almost six weeks, after attacks on oil facilities and ships in the Middle East threatened to worsen an already tight global supply chain, the outlet said. LiveMint Markets added that investors are now looking ahead to major central bank meetings, including the US Federal Reserve’s policy decision, amid concerns about how higher energy costs could feed into inflation.
At the stock level, Hong Kong-listed hotpot operator Haidilao dropped 9% after Bloomberg reported its co-founder was selling 259 million shares via a family trust holding vehicle, according to LiveMint Markets. Other names saw gains, including Lenovo up 2.1%, MiniMax up 1.9%, and Kingboard Laminates rising 3.3%.
Rising energy and food costs were also showing up in China’s inflation data, LiveMint Markets said, with August annual inflation rising to 0.8% from 0.5% in July, while producer prices increased 3.8% year-on-year versus 3.5% the prior month. The outlet also noted BofA Securities lowered its China growth forecasts to 4.2% for 2027 and 4.0% for 2028, while keeping 2026 growth at 4.5%, Reuters reported.
Latest closeWTI crude $94.28 ▲3.1%|Brent $99.39 ▲3.2%|Hang Seng 25,413.12 ▼0.9%