The Hang Seng plunged 138 points, or 0.6%, to close at 24,231 on Friday (07/03), snapping a three-day rally. The decline followed trade data from China showing an unexpected drop in imports in January-February, while exports lost momentum amid rising U.S. tariff pressures. The index retreated from a three-year high as investors turned cautious ahead of China's February CPI and PPI data, due over the weekend.
Losses were broad-based, with property, financial and technology stocks leading the decline. JD Logistics plunged 14.0% after reporting weaker Q4 net profit growth, while Semicon Manufacturing (-5.3%), UBTech Robotics (-4.8%) and Techtronic Inds. (-2.7%) also fell sharply. Despite Friday's decline, the Hang Seng gained 5.6% for the week, recovering from losses in the previous period. This was driven by optimism around the AI sector and signals that China is preparing to expand fiscal stimulus this year and maintain monetary easing to support economic recovery. (Newsmaker23)
Source: Trading Economics
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