Market Updates
Prolonged Hormuz Worries Dampen Mood In China and Hong Kong Trading
Li Chen
28 Apr, 2026
Mumbai
Stock market indexes in mainland China and Hong Kong lacked direction amid growing worries that shipments through the Persian Gulf are likely to remain disrupted for a prolonged period.
The Hang Seng Index decreased 0.7%, and the mainland-focused CSI 300 Index edged up a fraction as the U.S.-Iran peace talks stalled.
Brent crude oil prices jumped 1.2% to $109.47 a barrel amid a growing realization that crude oil and LPG gas shipments through the critical waterway are likely to remain disrupted longer than previously disrupted.
Policymakers in China, Japan, India, South Korea, and the Philippines are scrambling to shore up alternative energy supplies and source fertilizers and jet fuel from Russia and other nations.
Closer to home, investors are also lowering expectations of economic growth and raising estimates of inflation amid higher energy prices and passenger and cargo transportation disruptions.
China Indexes and Stocks
The Hang Seng Index decreased 0.7% to 25,752.60, and the mainland-focused CSI 300 Index edged up 0.01% to 4,773.98.
Contemporary Amperex Technology Co. Ltd. dropped 6% to HK $629.0 after the company announced a $5 billion secondary offering at a discounted price.
Moreover, the battery maker signed a deal to provide sodium-ion battery systems to Beijing HyperStrong.
Technology and AI-linked stocks traded down after Beijing ordered Meta Platforms to unwind its purchase of Manus AI.
Zhongji Innolight Co. decreased 3.1% to ¥830.58, and Eoptolink Technology edged up 0.2% to ¥539.14, and SMIC fell 1.4% to HK $67.35.
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