STOCKS | Hang Seng, H-Share Index Extend Gains to Three Days as PCB Stocks Surge

U.S.-Iran tensions weighed on U.S. stocks overnight and pushed oil prices sharply higher, while U.S. index futures continued to fall in afternoon trading as markets awaited U.S. inflation data and Federal Reserve Chair Walsh’s congressional testimony, according to Ming Pao. In Asia, a rebound in SK Hynix helped sentiment, lifting South Korea’s Kospi 0.73%. Hong Kong and mainland China printed circuit board-related stocks also jumped, with Kingboard Laminates (1888) up 14.2% and Kingboard Holdings (0148) up 8.8%. After China released export figures in the morning, the Hang Seng Index and Hang Seng Tech Index at one point posted their biggest intraday declines in more than two weeks, but both A-shares and Hong Kong stocks turned higher in the afternoon. The Hang Seng Index and the Hang Seng China Enterprises Index extended gains to a third straight session. Ming Pao said overall market turnover, southbound trading turnover, the southbound share of turnover, southbound inflows, and the Hang Seng Index’s intraday volatility all rose. Total market turnover stayed above HK$300 billion for a 17th consecutive session.