Hang Seng May Hand Back Monday's Gains

The Hang Seng rallied 319.35 points (1.24%) to finish at 26,095.88 on Monday, led by gains in financials, property and tech, but Asian markets face downside risk amid rising Middle East hostilities and a sharp crude-oil rally. Wall Street weakness (Dow down 557.37 points, S&P 500 and Nasdaq lower) and geopolitics pushed WTI crude up about $4 to $105.94/bbl, which could drag Asian bourses and cause the Hang Seng to give back Monday’s gains or trade flat. The piece frames a cautious, risk-off near-term outlook for Hong Kong and broader Asian markets.