Hong Kong Stock Market Trend | Hang Seng Index closes down 177 points, slipping below 25,000 but recovers, tech stocks remain weak

SighingCashier · 2026-04-02T11:55:29+00:00

U.S. President Trump once again threatens to launch an attack on Iran, causing market anxiety, with the US dollar and oil prices rising. Hong Kong stocks experienced volatility before the holiday, with the Hang Seng Index ultimately falling by 177 points, while the China and Tech indices also declined. The total market turnover was HKD 243.628 billion. Tech and internet stocks dragged down performance, while chip stocks faced selling pressure. A few blue-chip stocks rose, with Geely Automobile and Hansoh Pharmaceutical performing notably.

SighingCashier

2026-04-02 11:55:29

Abstract generation in progress

U.S. President Trump has vowed that he will continue to carry out strikes against Iran in the coming weeks, triggering market anxiety. The U.S. dollar and oil prices surged in response, while stock markets in the Asia-Pacific region and China A-shares turned lower. After Hong Kong stocks gained more than 500 points yesterday, they opened lower and fell steadily ahead of the day before the Easter holiday, with the Hang Seng Index dipping to nearly 400 points at one point and falling below the 25,000 level. Near the close, the decline narrowed, ending the day down 177 points, with the 25,000 level lost and then recovered.

The Hang Seng Index opened 39 points lower, at 25,254, which was already the high for the day. After that, bears gradually pushed toward the 25,000 level. In the first half, the index broke through the 250-day moving average, commonly known as the bull-bear line (currently at 25,142), with the index down 276 points in the first half. In the early part of the afternoon session, bears continued to launch their offensive. At one point, the broader market was down as much as 392 points, before rebounding after hitting a low of 24,901. As the close approached, the decline gradually narrowed, ending down 177 points, or 0.7%, at 25,116.

The China Enterprises Index fell 47 points, or 0.56%, to 8,456; the Hang Seng Tech Index fell 77 points, or 1.63%, to 4,679.

Total market turnover for the day was RMB 243.628 billion, with Northbound net inflows of RMB 19.828 billion.

Of the 90 blue-chip stocks, 46 fell.

Tech stocks dragged on the broader market. Xiaomi (01810) fell 3.6% to HK$30.88; Alibaba (09988) released the Qwen3.6-Plus next-generation large language model, and the share price fell 3.4% to HK$118.5; Tencent (00700) fell 1.5% to HK$489.2; Meituan (03690) fell 2.1% to HK$80.25; Kuaishou (01024) fell 2.8% to HK$44.9.

HSBC (00005) fell 0.2% to HK$130; AIA (01299) fell 1.5% to HK$86.15. Longfor Group (00960) fell 3.7% to HK$7.62, the worst-performing blue chip. Geely Automobile (00175) rose 8.4% to HK$23.82; Hansoh Pharmaceutical (03692) rose 5.2% to HK$39.36; Sunny Optical (02382) rose 5.2% to HK$59.9, the best-performing blue chips among the three.

Focus sectors

Chip stocks: Overseas chip stocks were sold off. Semiconductor Manufacturing International Corporation (00981) fell 3.5% to HK$51; Hua Hong Semiconductor (01347) fell 5.1% to HK$79.35.

Oil stocks: Oil prices rebounded. CNOOC (00883) rose 0.2% to HK$27.02; PetroChina (00857) rose 2.1% to HK$10.77.

Focus stocks

Maosheng Holdings (00022): The controlling shareholder sold its stake. The share price first rose and then dropped, ending down 10.9% at HK$0.25.

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