--- title: "Trump orders blockade of the strait, oil prices surge over 7%, gold prices decline, Hang Seng Index opens down 184 points | Hong Kong stock market opens" type: "News" locale: "en" url: "https://longbridge.com/en/news/282469051.md" description: "U.S. President Trump ordered the blockade of the Strait of Hormuz, causing oil prices to rise nearly 8%, with Brent crude oil increasing by over 7%. The stock market and gold prices generally fell, with the Hang Seng Index opening down 184 points. Technology stocks broadly declined, with Alibaba and Tencent both experiencing losses. Oil-related stocks rose against the trend, with PETRO-KING increasing by over 10%. In addition, HSBC and Standard Chartered obtained stablecoin licenses, with their stock prices falling by 0.9% and 1.3%, respectively. The unlicensed OSL saw its stock price drop by over 10%" datetime: "2026-04-13T01:27:45.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282469051.md) - [en](https://longbridge.com/en/news/282469051.md) - [zh-HK](https://longbridge.com/zh-HK/news/282469051.md) --- # Trump orders blockade of the strait, oil prices surge over 7%, gold prices decline, Hang Seng Index opens down 184 points | Hong Kong stock market opens The United States and Iran failed to reach an agreement during negotiations in Pakistan last Saturday, with Iran insisting on retaining control of the Strait and collecting tolls, rejecting the U.S. proposal for "joint management of the Strait." U.S. President Trump ordered the Navy to block the Strait of Hormuz and intercept vessels paying tolls to Iran. As a result, oil prices surged, with New York crude oil rising nearly 8% to $104.2; Brent crude also increased by over 7% to $102.11. In contrast, stock markets and gold prices fell, with U.S. stock index futures down between 0.7% and 0.9%; Japanese stocks fell 0.59% to 56,587 points; South Korean stocks also dropped 0.64% to 5,821 points. In Hong Kong, the Hang Seng Index opened down 184 points at 25,708 points. Spot gold prices fell 0.7% to $4,714. Tech stocks generally declined, with Alibaba (9988) confirming that HappyHorse is a model developed by its innovation division, leading to a 0.8% drop in its stock price at market open; Tencent (700) fell 1.2%; Meituan (3690) dropped 1%; Xiaomi (1810) decreased by 0.65%; Baidu (9888) also fell 3%; however, JD.com (9618) rose 0.7% against the trend. ## Oil-related stocks rise, PETRO-KING up over 10% Oil stocks rose against the trend, with CNOOC (883) up 1.7%; PetroChina (857) up 0.2%; and Sinopec (632) rising over 6%. Among oil service stocks, Shandong Molong (568) increased by over 6%; PETRO-KING (2178) rose by more than 10%. In terms of gold-related stocks, Zijin (2899) fell 1.3%; Chifeng Jilong Gold (6693) dropped 1.9%; Shandong Gold (1787) and Zhaojin Mining (1818) also fell 1.7% and 1.4%, respectively. ## HSBC and Standard Chartered lead companies to obtain stablecoin licenses Additionally, the first batch of stablecoin issuer licenses in Hong Kong was issued last week, with HSBC and a joint venture formed by Standard Chartered Hong Kong, Hong Kong Telecom, and Anxin Group receiving the licenses. HSBC (005) and Standard Chartered (2888) saw their stock prices open down 0.9% and 1.3%, respectively. Meanwhile, OSL (863), which failed to obtain a license, saw its stock price plummet over 10% at market open, and Guotai Junan International (1788), which was heavily traded last week, also fell over 6%. ## Tang Shengxing: The chance of the situation worsening remains low Tang Shengxing, chairman of the Hong Kong Stock Analysts Association, stated that the lack of results from the U.S.-Iran negotiations may not significantly impact Hong Kong stocks, as the market might view this as merely a negotiation tactic or strategy that requires time for back-and-forth and bargaining. He believes that both sides will ultimately reach an agreement, and the chance of the situation worsening is low. He also noted that current news about the U.S.-Iran conflict overshadows Chinese economic data, as the former influences the pace of U.S. interest rate cuts, which has a larger impact. Additionally, he mentioned that the market's outlook on gold is somewhat more optimistic than in the previous period, with gold prices likely to stabilize, but he remains cautious about oil prices due to concerns about a potential decline after a negotiation agreement is reachedLooking ahead to this week, the mainland will release a series of economic data, including March import and export figures, the "three driving forces," and the first quarter Gross Domestic Product (GDP). Additionally, individual Hong Kong stocks such as Contemporary Amperex Technology Co., Limited (3750), China Tower Corporation Limited (788), and Lens Technology Co., Ltd. (6613) will announce their first quarter results. Related articles: No results from US-Iran negotiations, focus this week on Sino-US economic data "Hangzhou Six Little Dragons" nuclear technology listing | Weekly outlook ### Related Stocks - [NUGT.US](https://longbridge.com/en/quote/NUGT.US.md) - [IAU.US](https://longbridge.com/en/quote/IAU.US.md) - [GDX.US](https://longbridge.com/en/quote/GDX.US.md) - [UGL.US](https://longbridge.com/en/quote/UGL.US.md) - [09824.HK](https://longbridge.com/en/quote/09824.HK.md) - [GDXJ.US](https://longbridge.com/en/quote/GDXJ.US.md) - [02178.HK](https://longbridge.com/en/quote/02178.HK.md) ## Related News & Research - [PRECIOUS-Gold rises as Treasury yields, oil ease; market eyes MidEast developments](https://longbridge.com/en/news/287089343.md) - [PRECIOUS-Gold falls with MidEast war in focus after Trump pauses strike](https://longbridge.com/en/news/286878933.md) - [How Trump’s trade push against Canada backfired](https://longbridge.com/en/news/286675578.md) - [PRECIOUS-Gold falls to 1-1/2-month low on higher US yields, firm dollar](https://longbridge.com/en/news/287016248.md) - [PRECIOUS-Gold steadies after hitting over 1-1/2-month low on robust yields](https://longbridge.com/en/news/286724682.md)