Hang Seng Index soars as Trump signals end to Iran conflict

10th March 2026 - (Hong Kong) Asian markets staged a sharp recovery on Tuesday, tracking Wall Street's bounce after President Donald Trump suggested the conflict with Iran was nearing its conclusion. The remarks alleviated investor concerns, with the VIX volatility index tumbling 13.5 per cent on Monday as all three major U.S. indices rallied.
Hong Kong's Hang Seng Index opened 331 points higher, climbing 1.3 per cent to 25,740. The tech-heavy Hang Seng Tech Index surged 2 per cent, adding 99 points to reach 5,040, while the Hang Seng China Enterprises Index advanced 95 points, or 1.1 per cent, to 8,676.
Technology stocks led the charge in Hong Kong. Kuaishou Technology jumped 2.8 per cent, while Xiaomi Corp rose 2.6 per cent. Tencent Holdings and Alibaba Group both advanced 1.7 per cent, with Meituan adding 1.6 per cent and JD.com up 1.9 per cent. Financial heavyweights provided additional support to the benchmark. HSBC Holdings climbed 2.6 per cent, AIA Group added 2.4 per cent, Ping An Insurance rose 1.6 per cent, and Hong Kong Exchanges and Clearing gained 1.4 per cent.
Artificial intelligence firm MiniMax extended its winning streak, advancing another 4.9 per cent to comfortably trade above the HK$1,000 mark, cementing its status as a so-called "bull stock." Regional markets also reflected the improved sentiment. Japan's Nikkei rallied more than 3 per cent, while South Korea's KOSPI surged over 6 per cent. Taiwan's benchmark index gained more than 3 per cent in early trade.
The easing of geopolitical tensions weighed on safe-haven assets and commodities. The U.S. dollar index fell below 99 in early trading, dropping 0.41 per cent to 98.77. Oil prices tumbled more than 8 per cent, with Brent crude sliding to US$90.29 per barrel and West Texas Intermediate retreating to US$86.37.
Hong Kong-listed energy majors felt the pinch from falling oil prices. CNOOC dropped 4.5 per cent, PetroChina declined 3.7 per cent, while Sinopec remained flat.

Sumber : Dimsumdaily.hk