While global markets continue to take stock of the conflict in Iran and energy shocks following the closure of the Strait of Hormuz, Hong Kong’s Hang Seng Index has been left largely unshaken from its two-year growth spurt.
The index was buoyed in recent days by China’s resilience in managing the ongoing energy crisis. Given that China is the world’s second-largest oil consumer, using 8.1 million barrels per day, surges in the cost of Brent crude have been a leading cause of concern for the country as leaders lowered their growth target for the year to 4.5 percent, their lowest rate since 1991.
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