The Hang Seng Index plunged 305 points, or 1.2%, to close at 25,525 on Tuesday, after posting two consecutive days of gains amid widespread losses. Sentiment worsened after US index futures fell sharply following President Trump's firing of Fed Chair Lisa Cook and his threat of "200% tariffs" on China if rare earth magnet exports were restricted.
Trump also vowed to retaliate against countries that regulate major US technology companies. The index retreated from a nearly four-year high on growing concerns that mainland Chinese stocks might weaken after a month-long rally that lifted the Shanghai Composite to a decade-high.
However, further declines were mitigated by several factors, including AI optimism, attractive market valuations in China and Hong Kong, Beijing's continued policy support, and abundant liquidity due to low bank yields. Haidilao plunged 2.8% after its first-half profit missed estimates, while Innovent Biologics (-4.1%), China Unicom (-3.6%), SMIC (-3.3%), and Dongfeng Motor (-1.7%) also posted sharp losses. (alg)
Source: Fxstreet
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of ...
The Hang Seng Index extended its rally for the third consecutive day in the latest trading session in Hong Kong on Wednesday (February 11). The index rose 0.3%, or 83.23 points, to close at 27,266.38,...
The Hang Seng continued to strengthen on Tuesday (February 10th), rising 156 points (0.6%) to close at 27,183. This marked a second consecutive day of gains, with most sectors contributing to the mark...
Hong Kong stocks surged on Monday morning. The Hang Seng Index rose 488 points, or around 1.8%, to 27,051, rebounding after weakening in the previous session. Sentiment was also lifted by Wall St...
The Hang Seng Index weakened 1.2% to close at 26,559.95 in Hong Kong trading on Friday (February 6). This decline brought the Hang Seng Index to its lowest closing level since January 20, after a slig...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...