Hang Seng Extends Losing Streak, Closes at 17,311 Amid Global Selloff

Hong Kong stocks face continued downside pressure after two consecutive losing sessions, with the Hang Seng Index closing Wednesday at 17,311.05. The latest drop follows a sharp reversal from the mid-week rebound that lifted the index back above 24,700 after the US-Iran 60-day ceasefire deal and Strait of Hormuz reopening eased geopolitical risks. Weak May China retail sales, heavy profit-taking in property and tech shares, and a sharp Wall Street decline triggered by disappointing earnings have weighed on sentiment. Traders now await Hong Kong trade data and monitor further moves in oil and US indices for direction.