Hang Seng Index Rises 0.16% as Oil Stocks Rally on U.S.-Iran Tensions

According to ChoiceWire, on July 13, the Hang Seng Index closed up 0.16% or 38.6 points at 24,213.72, with daily turnover of HK$309.5 billion. The Hang Seng China Enterprises Index gained 0.33% to 8,065.97, while the Hang Seng Tech Index fell 0.96% to 4,676.43.

Semiconductor stocks led declines as SK Hynix plunged 15.37% in Seoul, marking its largest single-day drop on record, while Samsung Electronics fell over 10%. However, oil and gas stocks rallied sharply amid escalating U.S.-Iran tensions. Baichuan Oil Services rose 16.47%, and Shandong Muylong gained 11.18%. WTI crude oil futures surged over 5% after U.S. forces launched multiple strikes on Iran's southern regions on July 12, prompting Iranian drones and missiles to target U.S. military assets in the Gulf early July 13.