Hang Seng Index Rises Amid Oil Spikes and Inflation Fears
The Hang Seng index closed higher for a second session as investors weighed rising crude oil prices against upcoming U.S. inflation data and bank earnings.
The Hang Seng index closed at 24,271.20 on Monday, marking a 0.25 percent gain and a second consecutive session of growth for the Hong Kong stock market. Despite the upward trend, analysts warn that momentum could stall as investors face a combination of geopolitical instability and economic uncertainty.
Crude oil prices rose sharply following attacks on Saudi Arabian aviation infrastructure by Iran-backed Houthi militants. West Texas Intermediate crude jumped 2.6 percent to $94.27 a barrel, adding pressure to the market.
Traders remain cautious ahead of a Wednesday inflation report, which is expected to guide the Federal Reserve System's next monetary policy meeting. The market is also awaiting quarterly earnings reports from major U.S. financial institutions, including Citigroup, JPMorgan Chase, Wells Fargo, and Bank of America.
