Market Updates
China and Hong Kong Indexes Extended Weekly Advance
Li Chen
12 Jun, 2026
Hong Kong
China's benchmark indexes rebounded and participated in an Asia-wide market rally amid hopes of a longer-lasting peace agreement between the U.S. and Iran.
The Hang Seng Index soared nearly 2%, and the mainland-focused CSI 300 Index gained 1.5% after the U.S. president claimed that a peace deal with Iran is likely to materialize as early as this weekend.
The U.S. president's claim could not be verified, and previous claims of a deal with Iran have turned out to be false dawns over the last two months.
Moreover, Iran is preparing to ramp up its aerial strikes in Jordan, Iraq, Kuwait, and Bahrain.
About 1,500 oil tankers are trapped in the Strait of Hormuz amid dual blockades, and at least 10 million barrels of oil a day are prevented from reaching global markets.
However, for now, benchmark indexes in Japan soared more than 3%, in South Korea surged 8.2%, and in Taiwan jumped nearly 4%.
China Indexes and Stocks
The Hang Seng Index soared 1.9% to 24,700.71, and the mainland-focused CSI 300 Index advanced 1.5% to 4,794.71.
For the week, the Hang Seng Index increased 0.6%, and the CSI 300 Index advanced 1.5% as investors reacted to developments in the Middle East amid escalating tensions.
Semiconductor, metals mining, and AI-linked stocks led gainers in Friday's trading.
Zijin Mining, Zijin Gold, SMIC, Zhongji Innolight, and China Tungsten advanced between 4% and 6%.
Alibaba Group increased 2.9%, Tencent Holdings increased 2%, and Meituan rose 0.1%.
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