Real-time News

The Hang Seng Index closed up 319.35 points, or 1.24%, at 26,095.88 on Monday, May 4; the Hang Seng Tech Index closed up 105.38 points, or 2.16%, at 4,976.7; the H-share Index closed up 92.56 points, or 1.07%, at 8,774.39; and the Red Chip Index closed up 20.91 points, or 0.48%, at 4,411.24.

UAE Energy Minister: Europe should reject US policy and take an independent stance. We have always welcomed the constructive participation of European countries on regional security and nuclear issues.

UAE Energy Minister: OPEC's response to the UAE's withdrawal from the organization has been relatively calm.

UAE Energy Minister: We will engage in bilateral cooperation with several OPEC and OPEC+ countries.

UAE Energy Minister: The UAE will continue to be a responsible oil producer.

European Central Bank: Professional forecasters predict GDP growth of 1.0% in 2026, compared with a forecast of 1.2% three months ago.

Iranian Foreign Ministry Spokesperson: Those who have committed crimes against the Iranian people must be held accountable.

The Central Bank of Türkiye launched a week-long auction of 10 tons of gold-for-lira sell-swapping contracts using traditional methods.

The European Central Bank: A survey of professional forecasters indicates that after the current surge in inflation, the inflation rate will fall back to near the target level next year.

Chinese stocks listed in the US generally rose in pre-market trading, with NIO (NIO.N) up 3%, Alibaba (BABA.N) up 2%, and Li Auto (LI.O) up 1%.

May 4th - Phil Smith, Associate Director of Economics at S&P Global Market Intelligence, stated that panic buying to secure supply continues to support German output and new orders amid concerns about future price increases and shortages. This forward-moving activity may see some pullback in the coming months. While we are seeing strong growth in new orders for intermediate goods (i.e., products used to produce other goods), demand for consumer goods has clearly declined. The number of firms expecting activity to decline over the next year now exceeds the number expecting growth. There are concerns that soaring inflationary pressures and their associated squeeze on purchasing power will dampen demand; industrial producer price inflation jumped sharply in April to its highest level in more than three years. Meanwhile, with supply delays reaching levels not seen since mid-2022, there is a risk of production reductions regardless of demand conditions.

Iranian Foreign Ministry Spokesperson: We are studying the US response to the proposal to end the war.

Iranian Foreign Ministry spokesman: (when asked about the UAE's withdrawal from OPEC) It is unhelpful for any OPEC member to withdraw from the organization in a "negative reaction".

Italy's manufacturing PMI for April was 52.1, below the expected 51.9 and the previous reading of 51.3.

Iranian Foreign Ministry Spokesperson: We are in consultations with Russia, an important member of the UN Security Council.

Iranian Foreign Ministry Spokesperson: The US government should understand that using threats and coercion against the Iranian people is ineffective. Repeating past mistakes will only make it more mired in the quagmire it has created in the region and the international community, making it even harder for it to extricate itself.

Iranian Foreign Ministry Spokesperson: The measures we have taken in the Strait of Hormuz are entirely in accordance with international law.