Hong Kong stocks plunged for a fifth straight day on Thursday (March 13), as investor sentiment remained gloomy amid fears of a looming global trade war.
The Hang Seng Index fell 0.58%, or 137.66 points, to 23,462.65. The Hang Seng China Enterprises Index also fell 0.48%, or 41.52 points, to 8,640.61.
Trade tensions remained high after the Trump-led US administration said it would respond to the EU's retaliatory measures against the US's 25% steel and aluminium tariffs, SCMP reported on Thursday.
The US economic policy, which has introduced a number of new tariffs since Donald Trump took office, including on Chinese companies, has fueled uncertainty and trade tensions, SCMP reported, citing a senior analyst at Moody's.
The prospect of a global trade war continues to have a negative impact on business and investor confidence, he said, with global gross domestic product growth expected to fall to 2.4% in 2025 and 2026 from 2.7% in 2024.
In corporate news, Venus Medtech (Hangzhou) (HKG:2500) fell 66% after resuming trading in line with the Hong Kong stock exchange's resumption guidelines.
The heart valve maker's shares have been suspended since November 2023 after certain unauthorized transactions involving two former executive directors were discovered.
Also, Alibaba Group (HKG:9988) fell more than 2% despite further progress in the artificial intelligence niche. The e-commerce giant launched an AI model that can read emotions in a bid to take on OpenAI's new model.
Source: Bloomberg
The Hang Seng Index rose 192 points, or 0.75%, to end at 25,690 on Friday, extending its gains for a third session as all major sectors advanced. Sentiment was boosted by continued gains in mainland C...
Hong Kong stocks rose 150 points, or 0.6%, to 25,649 in early trading on Friday, maintaining gains for the third straight session amid broad-based strength across sectors. Sentiment was lifted by a st...
The Hang Seng Index rose 29 points, or 0.1%, to close at 25,498 on Thursday (December 18), reversing early losses, led by gains primarily from the financial sector. Sentiment improved as mainland Chin...
Hong Kong stocks fell 53 points, or 0.2%, to 25,416 in Thursday morning trading, reversing the previous session's gains after Wall Street closed significantly lower overnight due to lingering concerns...
The Hang Seng Index rose 233 points, or 0.9%, to close at 25,469 on Wednesday (December 17), ending two consecutive sessions of sharp declines as gains spread across all sectors. The index rebounded f...
US stocks closed sharply higher on a triple-witching Friday, with the S&P 500 rising 0,9%, the Nasdaq 100 gaining 1.4%, and the Dow Jones adding more than 180 points, extending gains from the previous session as technology stocks...
European equities closed higher on Friday, with the STOXX 50 up 0.6% and the STOXX 600 rising 0.4% to a fresh record, boosted by expectations of further Fed rate cuts next year and fading bets that the ECB will raise borrowing costs in...
Gold (XAU/USD) Gold (XAU/USD) regains ground on Friday, edging modestly higher after earlier weakness, even as a resilient US Dollar (USD) caps upside momentum. At the time of writing, XAU/USD trades around $4,345, recovering from a daily low near...
The Bank of Japan (BOJ) is expected to raise interest rates on Friday to a three-decade high, from 0.5% to 0.75%, signaling readiness for further...
European stocks finished in positive territory on Thursday as traders positioned for central bank decisions today.
The pan-European Stoxx 600 was...
Japan's annual inflation rate edged down to 2.9% in November 2025 from October's 3-month high of 3.0%. Core inflation stood at 3.0%, keeping the...
Goldman Sachs sees gold prices climbing 14% to $4,900 per ounce by December 2026 in its base case, it said in a note on Thursday, while citing...