FX.co ★ HK Stocks Slip as Relief Rally Fades on Macro Caution

The Hang Seng Index slid 1% to around 25,071 on Thursday, extending its decline as the recent relief rally lost steam and investors turned more cautious after a two-day advance. Sentiment remained fragile amid mixed signals from U.S.–Iran negotiations, with hopes of de-escalation offset by persistent uncertainty, even as global equities drew some support. Regional markets stayed wary despite overnight gains on Wall Street. At the same time, continued foreign outflows from Asian equities, elevated bond yields, and worries over a potential energy shock weighed on risk appetite, while slowing economic growth limited any upside. Among the notable laggards were Tencent Holdings (-0.89%), Kuaishou Technology (-9.71%), Meitu Inc. (-0.84%), and Pop Mart International (-1.49%).