China Markets Extended Losses Following Middle East Tensions, Chow Tai Fook Jewellery In Focus

Li Chen
13 Jun, 2025
Hong Kong

China's stock market indexes fell and turned weekly gains to losses after Israel struck key installations in Tehran. 

The Hang Seng index decreased 1%, and the CSI 300 index declined 0.8% after crude oil and gold prices jumped following renewed tensions in the Middle East. 

Early Friday, Israel said it struck key military and nuclear stations at multiple locations in Iran and killed several top commanders and nuclear scientists. 

Oil prices rose after the attack raised the prospect of supply disruption, and bond yields edged lower as investors sought safety in government bonds.

Crude oil prices advanced 7.8% to $73.43 a barrel, and gold jumped 1.1% to $3,423.92 an ounce. 

 

China Indexes and Stocks 

PetroChina added 2.2% to HK $7.43, CNOOC Ltd. increased 2.3% to HK $18.74, and Sinopec Shanghai Petrochemical increased 1.6% to HK $1.26.

The Hang Seng index decreased 1% to 23,804.05, and the mainland-focused CSI 300 index dropped 0.8% to 3,860.33. 

 Chow Tai Fook Jewelry Group Ltd. gained 6.2% to HK $13.04 after the jeweler's net income surpassed expectations. 

Revenue declined to HK$89.66 billion from HK$108.71 billion, profit edged down to HK$5.91 billion from HK$6.50 billion, and diluted earnings per share fell to 59.2 cents from 65.0 cents a year ago.

The company closed down 906 points of sale in mainland China amid an ongoing weak demand outlook and lowered the mainland count of locations to 6,501. 

E-commerce contributed 5.8% in retail sales volume and 13.8% in volume to mainland performance during the fiscal year 2025. 

The significant growth was driven by several key factors, including the establishment of an in-house livestreaming studio and enhanced social media promotions.