Hang Seng Index Trend | Down 123 Points at Midday, Major Tech Stocks Stabilize

SighingCashier · 2026-03-13T07:55:45+00:00

Middle East tensions impact US stocks, with US equity indices declining and Asia-Pacific markets showing mixed performance. Hong Kong stocks opened with volatility and weakness, with the Hang Seng Index down 123 points at 25,593 points at midday, with trading volume of HK$126.059 billion. Major tech stocks stabilized, while oil stocks rose following increases in oil prices. MTR Corporation and Swire Pacific showed significant stock price volatility, while Maoji Kwai Chung surged substantially.

SighingCashier

2026-03-13 07:55:45

Abstract generation in progress

The Middle East conflict continues to escalate, causing U.S. stocks to decline overnight. However, Asian-Pacific markets showed mixed performance this morning. Hong Kong stocks were volatile and slightly weak in the early session, with the Hang Seng Index dropping more than 100 points at midday.

The Hang Seng Index opened 133 points lower at 25,583, and later fell as much as 241 points to a low of 25,475. It gradually recovered, at one point only down 19 points, reaching a high of 25,697 before slightly extending its decline. The midday close was at 25,593, down 123 points or 0.48%.

The China Enterprises Index fell 1 point or 0.01%, to 8,698; the Tech Index dropped 20 points or 0.41%, to 5,007.

Half-day turnover was HKD 126.059 billion, with net northbound inflow of HKD 4.326 billion.

Major tech stocks stabilized: NetEase (09999) rose 1.6% to HKD 184.3; Tencent (00700) increased 1.1% to HKD 552.5; Baidu (09888) up 1.3% to HKD 122; Alibaba (09988) up 1.5% to HKD 133.6; JD.com (09618) up 1.4% to HKD 111.

COSCO Shipping (00316) reported a 41% profit decline last year and fell 4.8% to HKD 146.8; Luk Fook (06181) dropped 4.8% to HKD 642.5; HSBC (00005) declined 3.8% to HKD 124.

Focus Sectors

Oil stocks: Oil prices rose again, with Brent crude surpassing USD 100 per barrel. Oil stocks performed well: CNOOC (00883) up 1.6% to HKD 29.56; PetroChina (00857) up 1.4% to HKD 10.77.

Focus Stocks

MTR Corporation (00066) reported a 7% profit decline last year but maintained dividends. After a slight dip at opening, the stock fell further, dropping 6.3% midday to HKD 32.42, making it the worst-performing blue chip.

Swire (00019) issued a 10% discounted placement of Cathay Pacific (00293), and Swire rose 5% to HKD 86.9; Cathay Pacific fell 3%, hitting a low of HKD 12.6.

Ming Kee Kwai Chung (01716) changed ownership and resumed trading this morning, with the stock rising 16.5% midday to a high of HKD 1.41.

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