Europe Asia News

According to CCTV, Hong Kong’s Hang Seng Index closed down 1.11 percent at 25,675.18 points. The Hang Seng China Enterprises Index fell 1.07 percent to 8,597.97 points, while the Hang Seng Tech Index dropped 1.95 percent to 4,844.94 points.

Market analyst Timothy Pope, speaking to China Global Television Network, said investors remained cautious due to developments in the Middle East. Pope noted that despite gains in energy stocks, most sectors experienced declines.

Hong Kong markets saw notable losses particularly among Chinese electric vehicle manufacturers. Shares of Li Auto fell more than 14 percent after the company unveiled its new SUV model. Analysts assessed that the new model failed to meet market expectations. During the day, shares of BYD, Geely, Xpeng, and Leapmotor also declined.

In Japan, the Nikkei 225 index closed down 0.97 percent at 60,815.95 points, marking its third consecutive trading day of losses.

Timothy Pope said investor confidence in Japan remained under pressure due to expectations of interest rate hikes and rising bond yields. Japan’s 10-year bond yields were reported to have reached their highest level since 1996.

Analysts state that tensions in the Middle East continue to increase concerns in global markets regarding inflation and energy costs.