Hong Kong stocks snap two-day drop amid US, China efforts to resolve Israel-Hamas conflict

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Hong Kong stocks advanced, halting a two-day slide, after US and Chinese officials stepped up diplomatic efforts to help prevent the Israel-Hamas war from spilling into a regional conflict.

The Hang Seng Index gained 0.4 per cent to 17,707.82 as of 10.20am local time, after rising as much as 0.9 per cent. The Tech Index added 0.1 per cent while the Shanghai Composite Index fell 0.2 per cent.

Alibaba Group added 0.2 per cent to HK$81.45, e-commerce rival advanced 1.6 per cent to HK$105.30, while Hansoh Pharmaceuticals jumped 0.5 per cent to HK$11.46, while travel operator climbed 1.3 per cent to HK$258.80.

President Joe Biden will travel to Israel and Jordan on Wednesday to meet with both Israeli and Arab leaders on the Middle East crisis. China’s Foreign Minister Wang Yi held talks to his Russian counterpart and called on the UN Security Council to help resolve the conflict.

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