US President Donald Trump threatened to impose sanctions on Iraq and retaliate against Iran if it strikes back after the killing of its top commander. His threat against Iraq comes after its parliament voted in favour of expelling U.S. troops.
All but eight constituents of the 50-member Hang Seng Index fell, with property stocks providing the biggest drag. Wharf Real Estate Investment dropped 3.2% to HK$45.15 and Country Garden Holdings lost 2.1% to HK$12.32.
Oil producers rallied as the US attack boosted crude oil futures to their highest level since April. PetroChina (00857) shot up 4% to HK$4.2. CNOOC (00883) gained 3.6% to HK$13.72. Sinopec (00386) advanced 0.6% to HK$4.8. China Oilfield Services (02883) added 2.9% to HK$12.88.
The increased geopolitical tensions also boosted gold prices which pushed miners of the yellow metal higher. China Silver Group (00815) soared 5.6% to K$0.95. Zhaojin Mining Industry (01818) jumped 4.9% to HK$9.42. Shandong Gold Mining (01787) shot up 3.8% to HK$19.82.
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