China, Hong Kong stocks slip on renewed US-Iran hostilities

** At the midday break, the benchmark Shanghai Composite index ‌lost 0.43%, while the blue-chip CSI300 Index fell 0.9%. ** In Hong Kong, the benchmark Hang Seng Index declined 1.09%, while the city's tech shares eased 1.08%.

Mainland Chinese and Hong Kong stocks slipped on Friday, ​as renewed hostilities broke out between the ​United States and Iran, threatening a ‌shaky ceasefire, ​while investors awaited next week's meeting between top leaders of the world's two largest economies. ** At the midday break, the benchmark Shanghai Composite index ‌lost 0.43%, while the blue-chip CSI300 Index fell 0.9%.

** In Hong Kong, the benchmark Hang Seng Index declined 1.09%, while the city's tech shares eased 1.08%. ** For the week, both SSEC and CSI300 looked set for their fifth ‌straight weekly rise, with the former set to gain 1.22% and the latter up 1.02% this ‌week.

** The HSI looked set to gain 2.17% for the week. ** The United States and Iran exchanged fire on Thursday in the most serious test yet of their month-long ceasefire, but Iran said the situation returned to normal while the U.S. ⁠said ​it did not want to ⁠escalate. ** Semiconductor shares led the losses, as investors took profit following recent gains. A sub-index tracking the sector lost 3.49%.

** Shanghai's tech-focused ⁠STAR50 Index dropped 2.9% at the lunch break. ** "China remains a relative bright spot, supported by strong risk appetite and renewed ​inflows," Wee Khoon Chong, APAC macro strategist at BNY, said in a note.

** "Geopolitics (Middle East) and ⁠next week's U.S.–China developments are key near-term catalysts." ** Much of the market attention will shift to U.S. President Donald Trump's visit to ⁠China ​next week and a string of domestic data, including trade on Saturday, inflation on Monday, and credit lending data later next week. ** The White House has invited a scaled-back CEO delegation to accompany Trump ⁠to Beijing next week, five sources briefed on preparations said, reflecting divisions in the administration on economic policy ⁠toward China and limited ⁠expectations for the summit. ** China's export growth likely quickened in April, a Reuters poll showed, as companies rushed to stockpile components from the manufacturing powerhouse amid fears ‌the Iran war ‌could push input costs even higher.