Asian stocks were mixed, with the Shanghai Composite falling back. Although the Political Bureau of the Communist Party of China Central Committee outlined a policy direction for economic improvement through measures such as expanding domestic demand, the market was dampened by rising US long-term interest rates following the Federal Open Market Committee meeting and higher crude oil prices amid escalating Middle East tensions. The Hang Seng Index rose for a fourth straight day, supported by expectations of additional economic stimulus from Chinese authorities, with PetroChina and others gaining on higher crude oil prices. The Shanghai Composite closed at 3804.69, down 23.78 points from the previous day, while the Hang Seng Index ended at 25858.88, up 50.96 points.
PetroChina Co Ltd Class AHigher crude oil prices due to Middle East tensions benefit PetroChina as an oil producer.