Hong Kong Stocks Open Higher Despite Renewed US-Iran Tensions

MT Newswires Live09:51

Hong Kong stocks opened higher on Wednesday as investors assessed renewed tensions in the Middle East following the US' strikes on Iran and the reinstatement of trade sanctions.

The Hang Seng Index rose 0.2%, or 44.33 points, to 23,541.22, while the Hang Seng China Enterprises Index gained 0.4%, or 33.19 points, to 7,803.45.

The U.S. targeted Iran's air defenses, coastal surveillance systems, anti-ship positions and drone launch sites, marking the latest escalation since the ceasefire reached last month, according to a Reuters report citing a U.S. official.

Washington also withdrew a waiver that had allowed Iran to sell oil on global markets, a move Tehran said violated the framework agreement aimed at ending the conflict.

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