Despite the recent U.S. airstrikes on Iran adding uncertainty to the global political and economic landscape, Hong Kong's property market continues to thrive. According to Ming Pao, the city recorded approximately 1,420 first-hand property transactions in February, following around 2,460 in January. This brings the total for the first two months of 2026 to 3,880 transactions, marking a significant increase of over 90% compared to the same period last year, which saw about 2,005 transactions. Several new property developments are set to announce detailed sales plans this week. Among them is the DEEP WATER SOUTH series at Wong Chuk Hang Station, a collaboration between Wheelock Properties and MTR Corporation. Over the past two days, more than 2,000 people have scheduled visits to the exhibition hall located at Harbour City in Tsim Sha Tsui. The sales arrangements for the large units in Phase 6B are expected to be announced soon.

HSBC has been streamlining its banking structure over the past few years, including selling its retail banking operations in France and the United States, as well as its life insurance business in the UK. According to Ming Pao, HSBC completed the privatization of Hang Seng Bank in January. When asked by reporters about the possibility of divesting some non-core assets or businesses of Hang Seng, HSBC CEO Noel Quinn stated that there are no plans to dispose of these assets. He emphasized that all parts of Hang Seng are valued and appreciated by HSBC, and there remains significant room for coordination between Hang Seng and HSBC in specific areas.

Last week, U.S. stock markets saw a decline, with the S&P 500, Dow Jones, and Nasdaq indices falling by 0.44%, 1.31%, and 0.95%, respectively. According to Ming Pao, this downturn is notably different from previous ones as financial stocks have begun to accelerate their decline alongside the broader market. On Friday, the KBW Bank Index dropped nearly 5%, with Goldman Sachs falling 7.4%, Morgan Stanley down 6.2%, and both Wells Fargo and Citigroup experiencing declines of over 5%. This trend indicates growing market concerns that the 'SaaS apocalypse' could trigger a crisis in the private credit sector, potentially leading to a systemic financial crisis, which is causing widespread apprehension.

Recent uncertainties in U.S. policies, concerns over an AI bubble, and geopolitical risks have led to ongoing fluctuations in global stock markets. According to Ming Pao, diversifying investments across various assets can mitigate the risks associated with stock market volatility. One option for investors is high-yield fixed deposits. Currently, there are numerous long-term U.S. dollar fixed deposit options available with interest rates exceeding 3%, allowing investors to secure higher interest returns before any potential rate cuts by the U.S.

Recent developments in private credit have negatively affected U.S. software stocks. According to Ming Pao, the collapse of the UK private credit firm MFS has triggered a new wave of selling pressure. As a result, the U.S. financial sector ETF (XLF) fell by 2%, while the regional banking ETF (KRE) dropped by 5%. This article explores the underlying issues contributing to these market movements.

Hong Kong's stock market saw a mild rebound last Friday, although the momentum was relatively moderate. According to Ming Pao, the night session declined again due to global concerns over the potential chain reaction from the collapse of private credit firm MFS. Over the weekend, the United States and Israel launched formal attacks on Iran, introducing additional variables into the market dynamics. AI-related stocks in Hong Kong remain strong, with Minth Group (0425) being noteworthy.

A scandal has emerged involving the Japanese manga application 'Manga One,' operated by Shogakukan, which has been accused of allowing a creator involved in sexual misconduct to continue publishing under a different pen name. According to Ming Pao, this revelation has sparked a boycott among manga artists, who are demanding the removal of their works from the platform. Notable creators joining the protest include Rumiko Takahashi, known for 'Ranma 1/2,' and Kanehito Yamada, the author of 'Frieren: Beyond Journey's End.'

Vietnam has enacted a new law regulating artificial intelligence (AI), which took effect on Sunday, March 1. According to Ming Pao, this makes Vietnam the first Southeast Asian nation to establish a comprehensive AI regulatory framework. The legislation aims to address the growing influence and integration of AI technologies in various sectors, ensuring ethical standards and accountability in their application. This move positions Vietnam as a leader in AI governance within the region, setting a precedent for other countries to follow.

Iran's Islamic Revolutionary Guard Corps (IRGC) has announced that it has successfully downed more than 20 drones belonging to the United States and Israel. According to Jin10, the IRGC stated that these drones were intercepted during operations in the region. This development highlights the ongoing tensions between Iran and the US-Israel alliance, with drone warfare becoming a significant aspect of their military engagements. The IRGC's announcement underscores the strategic importance of drone technology in modern conflicts and the escalating geopolitical tensions in the Middle East. The incident reflects the broader regional dynamics and the complex interplay of military capabilities among these nations.

As global equity investors evaluate the repercussions of ongoing conflicts, attention is drawn to specific sectors as trading commences in markets across Asia, Europe, and the United States. Bloomberg posted on X, highlighting the importance of monitoring these sectors closely. Investors are advised to keep an eye on industries that may be directly affected by geopolitical tensions, including energy, defense, and technology. The energy sector is particularly sensitive to fluctuations in oil prices, which can be influenced by geopolitical instability. Defense stocks may see increased interest due to heightened security concerns, while technology companies could face challenges related to supply chain disruptions. Market analysts suggest that the current geopolitical climate could lead to increased volatility in global markets. As a result, investors are urged to adopt a cautious approach and consider diversifying their portfolios to mitigate potential risks. In Asia, markets are expected to react to developments in the region, with particular focus on the impact of geopolitical events on trade and economic growth. European markets will likely be influenced by political decisions and economic policies, while U.S. markets may respond to domestic and international factors affecting investor sentiment. Overall, the situation remains fluid, and investors are encouraged to stay informed and adapt their strategies accordingly. As trading unfolds, the focus will be on how these sectors navigate the challenges posed by the current geopolitical landscape.

The direct market impact will be a strengthening of global safe-haven assets, with gold continuing its bull market. If oil supply disruptions push up oil prices, US Treasury bonds will particularly benefit; global stock markets will decline, but US stocks will outperform relatively.

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