China's Indexes Trimmed Weekly Gains, Crude Oil Prices Hovered Near Multi-Year Highs

Li Chen
13 Mar, 2026
Hong Kong

Stocks in China and Hong Kong declined as Middle East tensions show no signs of easing. 

The Hang Seng Index decreased 0.5%, and the mainland-focused CSI 300 Index declined 0.02% amid resurgent crude oil prices. 

The Middle East tensions remained elevated as the U.S. and Iran hardened their positions amid mounting destruction and loss of lives. 

Israel, despite its hawkish rhetoric and military superiority over Iran, has been successfully hit by Iran's missiles and drones. Moreover, U.S. military bases have suffered severe damage in Bahrain, Kuwait, and Doha.

Advanced weapons are not likely to determine the outcome of the latest phase of war on Iran, as Israel ramped up its attacks on Lebanon and several cities in Iran, including Tehran.

The Brent crude price soared above $100 a barrel after the recently appointed Iran's Supreme Leader, Mojtaba Khemenei, declared his intentions to keep the Strait of Hormuz closed for the foreseeable future. 

The U.S. president, reversing his earlier position, announced his plans to continue the war and prevent Iran from pursuing its nuclear weapons program. 

Israel is widely estimated to have at least 200 nuclear-powered weapons, capable of wiping out all nations in the Middle East and Europe. 

 

China Indexes and Stocks 

The Hang Seng Index decreased 0.5% to 25,593.25, and the mainland-focused CSI 300 Index edged down 0.02% to 4,686.51. 

Ocean freight companies led the most actively traded stocks following elevated tensions in the Middle East. 

Orient Overseas International decreased 5.1% to HK $146.30, COSCO Shipping Holdings dropped 2.8% to HK $15.48, and China Merchants Port Holdings declined 0.1% to HK $16.88. 

ZTO Express increased 2.9% to HK $189.70, and JD.com gained 1.1% to HK $110.80. 

MTR Corp. declined 6% to HK$32.54 after the Mass Transit Railway system operator reported a 7% decline in net income in 2025.