Hong Kong Shares Sway with Tech Stocks' Slide and Oil Gains Post-Lunar New Year

Hong Kong stocks dipped after reopening from the Lunar New Year break. Technology shares led the decline amidst U.S.-China tensions, while oil shares rose due to increased oil prices. Humanoid robots took center stage at China’s Spring Festival gala, boosting related stocks, showcasing China's industrial policy ambitions.

Hong Kong shares took a hit on Friday, reopening after the Lunar New Year break with technology stocks leading the decline. This came as tensions between the U.S. and Iran spurred higher oil prices, offering some support to oil shares. Notably, the installment of humanoid robots as a highlight during China's annual CCTV Spring Festival gala put related stocks in the spotlight, reflecting Beijing's push in advanced manufacturing and industrial policy.

Market participants expressed caution towards technology stocks due to rising geopolitical unease between China and the U.S. Consequently, the Hang Seng Index dropped by 0.6%, settling at 26,544.62, while the Hang Seng China Enterprises Index saw a 0.59% decrease to 9,016.99.

PetroChina emerged as a top performer, climbing 4.58%, against Baidu Inc's decline of 5.67%. Among H-shares, Zhejiang Sanhua Intelligent Controls saw a 6.6% rise, evidencing enthusiasm for stocks related to China's burgeoning humanoid robotics sphere.