China's Indexes Hovered Near Five-Year Highs, CK Hutchison to Sell Telecom Assets In UK

Li Chen
12 May, 2026
Hong Kong

 

Stocks in mainland China and Hong Kong struggled to advance amid lingering tensions in the Middle East. 

The Hang Seng Index gained 0.5%, the mainland-focused CSI 300 Index edged higher 0.2%, and crude oil prices resumed their advance after the U.S.-Iran peace talks stalled. 

The Brent crude oil price inched higher by 1.1% to $105.13 a barrel after the U.S. president rejected the latest overture from Iran and cast doubts over an immediate settlement. 

Investors also reassessed the latest economic updates on inflation and international trade, and top political leaders reiterated their commitments to support for research and innovation for advanced semiconductor design and production.

Benchmark indexes in mainland China and Hong Kong are approaching their five-year highs amid improving earnings outlooks and receding geopolitical tensions. 

However, the ongoing uncertainty in the Middle East kept gains in check as the six-week-long rally appears to stall. 

 

China Indexes and Stocks 

The Hang Seng Index gained 0.5% to 26,545.38, and the mainland-focused CSI 300 Index edged up 0.2% to 4,958.95. 

Alibaba Group, Tencent Holdings, JD.com, Meituan, and Baidu Inc. edged higher, and Internet platform operators and technology companies led gainers. 

CK Hutchison Holdings soared 6% to $73.25 after the diversified conglomerate said it plans to sell its 49% stake in the UK-based VodafoneThree for $5.8 billion and book a gain of $600 million or about HK $4.7 billion.

The Hong Kong-based conglomerate is sitting on cash and cash equivalents worth HK$143.7 billion at the end of 2025, higher than HK$121.3 billion at the end of the previous year.