Hong Kong Stocks Fall as Gold ETFs Surge 6.31%, Oil Gains Drive Energy Sector

According to Zhitong Finance, Hong Kong's stock market posted mixed results today (July 22), with the Hang Seng Index declining 0.95% to 24,892.66 points and the Tech Index falling 3.04% to 4,668.23 points. Gold-linked ETFs bucked the market weakness amid easing Federal Reserve rate hike expectations and continued central bank gold purchases, with National Fund's Gold ETF (517400.SH) surging 6.31% to 1.466 yuan, Yongyingying Gold Stock ETF (517520.SH) rising 5.7% to 1.854 yuan, and Huaxia Gold Stock ETF (159562.SZ) up 5.51% to 2.01 yuan.

Overnight oil price gains drove strong energy sector performance. Brent crude briefly breached $91 per barrel amid ongoing Middle East tensions, including escalating Iran-U.S. friction and Houthi maritime restrictions affecting the Strait of Hormuz. F Star Crude Oil (03175) climbed 3.96% to 10.38 HKD, while S&P Oil & Gas ETF Harvest (159518.SZ) rose 4.08% to 1.199 yuan and S&P Oil & Gas ETF Guotai (513350.SH) gained 3.72% to 1.282 yuan.