Hong Kong Stocks Waver Post-Lunar New Year Amid Tech Concerns and Oil Gains

Hong Kong shares dipped as tech stocks plunged post-Lunar New Year, influenced by U.S.-China tensions and Chinese regulatory warnings. Oil stocks, however, gained due to conflict fears between the U.S. and Iran. Meanwhile, humanoid robot-related stocks surged, showcasing China's focus on robotics innovation.

Hong Kong stocks fell on Friday following the reopening after the Lunar New Year holiday, led by declines in technology stocks. This downturn was mitigated slightly by gains in oil shares, driven by rising crude prices amid escalating U.S.-Iran tensions.

The technological retreat is attributed to growing geopolitical strains between China and the United States, coupled with Chinese regulatory warnings against competitive practices by platform operators. In a contrasting trend, stocks linked to humanoid robots soared, boosted by their prominent display in the CCTV Spring Festival gala, highlighting China's aggressive industrial policy to lead in robotics and manufacturing.

The Hang Seng Index dropped by 1.1% to close at 26,413.35, and the Hang Seng China Enterprises Index fell 1.22% to 8,959.56. PetroChina emerged as the Hang Seng's leading gainer, while JD Health International Inc was the biggest loser. Concurrently, Zhejiang Sanhua Intelligent Controls and Shanghai MicroPort MedBot achieved significant gains in the humanoid robots sector.

(With inputs from agencies.)