The main stock exchanges in mainland China and Hong Kong opened this Tuesday, 24th, higher, after the President of the United States, Donald Trump, decided to postpone attacks on power plants and energy infrastructure in Iran for five days.
At the opening of the session, the Hong Kong Stock Exchange’s Hang Seng index rose 1.55%, gaining 377.35 points, settling at 24,759.82 points.
In mainland China, the Shanghai reference index advanced 0.53%, reaching 3,833 points, while the Shenzhen index rose 1.27%, reaching 13,514.67 points.
The slight rise in Chinese markets comes after ending the previous session in decline, due to the escalation of the conflict in the Middle East and the rise in oil prices.
Regarding the Strait of Hormuz, Trump stated on Monday that it should reopen “soon” if negotiations are successful, and admitted the possibility of establishing “joint” control of this strategic route between the United States and Iran.
This route, through which around 20% of the world’s oil passes, was blocked by Iran in response to the offensive launched by the United States and Israel on February 28 against the Islamic Republic.
The Strait of Hormuz is also a key artery for China, as around 45% of its crude oil imports transit through this route.
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