Market Updates
China Markets Rebounded 2% Following Prospects of an Iran-Israel Temporary Ceasefire
Li Chen
24 Jun, 2025
Hong Kong
China market indexes advanced on Tuesday, and energy prices turned lower amid expectations of a cooling of hostilities in the Middle East.
The Hang Seng index jumped over 2%, and the mainland-focused CSI 300 index advanced 1% after the U.S. president claimed that Iran and Israel had agreed to a temporary ceasefire.
Donald Trump's could not be verified, and his previous assertions about the India-Pakistan ceasefire have proven to be misleading and inaccurate.
For now, crude oil prices dropped, extending a two-day drop to 10% as the prospects of a global crude oil supply disruption receded.
Benchmark indexes in Tokyo, Seoul, Mumbai, and Sydney headed higher amid hopes of a temporary ceasefire in the Middle East.
China Indexes and Stocks
The Hang Seng Index soared 2.2% to 24,177.98, and the mainland-focused CSI 300 index advanced 1.1% to 3,899.85.
Li Auto Inc. jumped 4.8% to HK $112.80, BYD gained 3.4% to HK $130.50, and Dongfeng Motor Group advanced 0.9% to HK $3.44.
CNOOC Ltd. declined 0.9% to HK $17.92, PetroChina decreased 0.6% to HK $6.67, and China Petroleum and Chemical added 1.2% to HK $4.09.
Alibaba Group advanced 1.9% to HK $113.0, Meituan gained 1% to HK $132.80, and Tencent Holdings gained 0.8% to HK $508.0.
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