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Hong Kong stocks rally after US says it reaches deal with Iran over oil flow
US President Trump says the Strait of Hormuz would reopen on Friday
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Zhang Shidongin ShanghaiPublished: 9:44am, 15 Jun 2026Updated: 9:48am, 15 Jun 2026Hong Kong stocks kicked off the week’s trading on a strong note on Monday after the US said that it sealed a deal with Iran to reopen the Strait of Hormuz and lift the blockade by the US Navy, sparking a “risk-on” mode across asset classes.
The Hang Seng Index rose 0.8 per cent to 24,919.40 as of 9.30am local time. The Hang Seng Tech Index gained 1.5 per cent. On the mainland, the CSI 300 Index climbed 1 per cent.
Asian stocks also rallied. South Korea’s Kospi index, at the centre of the AI trade in the region, jumped 6 per cent and Japan’s Nikkei 225 advanced 5.1 per cent. Gold prices gained about 2 per cent, while Brent oil slumped 4 per cent to US$83.90 a barrel.Advertisement
The Strait of Hormuz would reopen on Friday upon the signing of the deal with Iran, US President Donald Trump said in a post on Truth Social. The deal announcement came first from Pakistani Prime Minister Shehbaz Sharif, and was followed by Trump and Iranian state media. Neither side released the text of the deal.
The deal may end three months of conflict in the Middle East, which drove oil prices above US$100 a barrel, fuelled stagflation expectations and rattled financial markets. An end to the hostilities may add more momentum to the global AI rally, a bedrock for the bull run that has pushed equities to record highs this year.AdvertisementInvestors will also keep a close watch on the Federal Reserve’s decision on rates on Wednesday. While the US central bank is widely expected to keep the borrowing cost unchanged, the rhetoric of new US Fed chair Kevin Warsh will be under close scrutiny for any indication of a new path on monetary policy.AdvertisementSelect VoiceSelect Speed00:0000:001.00x