Hong Kong stocks trade rangebound on Japan bond rout, Greenland unease
Signs emerge that the flare-up of geopolitical tensions could spill over to the financial markets
The Hang Seng Index rose 0.4 per cent to 26,585.06 at the close after changing directions more than 10 times in choppy trading. The Hang Seng Tech Index gained 1.1 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both added 0.1 per cent.
Sentiment on stocks stabilised after reassuring comments from Japanese officials drove down the yield tentatively.
Spot gold prices smashed the previous record, rising 1.7 per cent to US$4,843.98 an ounce on the day, as investors flocked to haven assets on concern about retaliatory measures from Europe against a tariff imposed by the US on the continent’s eight countries.
Semiconductor Manufacturing International rallied 3.7 per cent to HK$77.25 and short-video platform operator Kuaishou Technology advanced 3.6 per cent to HK$78.80. Search engine operator Baidu gained 3.3 per cent to HK$153.70. Tempering gains, Chinese sportswear maker Anta Sports Products slumped 4.2 per cent to HK$79.10 and peer Li Ning shed 2.7 per cent to HK$20.90.
Risk assets are under pressure after a solid start to 2026 lifted an MSCI gauge of global stocks to a record high. Signs are emerging that the flare-up of geopolitical tensions could spill over to the financial markets, as a Danish pension fund said it was planning to liquidate US$100 million of US treasuries in response to US President Donald Trump’s attempt to seize Greenland. A meltdown in Japanese bonds added another layer of uncertainty, spilling over to other sovereign debts and recalibrating global investors’ portfolios.