Market Updates
Renewed Tensions in the Middle East Dragged Down China
Li Chen
05 Jun, 2026
Hong Kong
Stocks in China and Hong Kong traded down in Friday's trading as investors reviewed volatile conditions in the Middle East.
The Hang Seng index decreased 0.9%, and the mainland-focused CSI 300 Index edged down 0.1% as renewed tensions in the Middle East weighed on the market sentiment.
The latest escalation came despite the U.S. president making unsubstantiated claims about the progress in ceasefire negotiations, even as Iran said talks had stalled.
The U.S. military installations in Kuwait, Bahrain, and the UAE faced renewed Iranian attacks following a barrage of Israeli attacks in southern Lebanon.
China Indexes and Stocks
The Hang Seng Index decreased 0.9% to 25,034.02, and the mainland-focused CSI 300 Index declined 0.1% to 25,034.02.
For the week, the Hang Seng decreased 0.5%, and the CSI 300 index was nearly unchanged.
Chipmakers advanced in Shanghai, Shenzhen, and Hong Kong amid reports that AI startup DeekSeek is seeking 50 billion yuan, or $7.5 billion, in its latest funding round.
GigaDevice Semiconductor, Hua Hong Semiconductor, and SMIC advanced between 3% and 8%.
Electric vehicle makers faced a renewed sell-off amid worries that intense competition could depress already thin operating margins.
BYD, Xpeng, CATL, and Xiaomi dropped between 1% and 4%.
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