Hang Seng Retreats 1.8% as Trade Tensions Flare

2026-02-24 08:18 By Farida Husna 1 min. read

The Hang Seng plunged 491 points, or 1.8%, to end at 26,590 on Tuesday, erasing most of the prior session’s gains following Wall Street’s sharp drop Monday on renewed tariff anxiety and geopolitical tensions.

The benchmark index dipped from a near two-week top, with broad weakness across sectors, including consumer, tech, and financials.

Traders shrugged off added liquidity in regional markets with China and Japan reopening from holidays, as their focus shifted to fresh friction between Beijing and Tokyo after China barred exports of dual-use items to 20 Japanese firms with alleged military ties.

Still, losses were partly cushioned by notable gains in mainland stocks on bets that a U.S.

tariff reset could benefit China.

CK Hutchison slid 2.7% after Panama canceled the company's port contracts following a court ruling.

Meantime, tech names tracked U.S.

jitters over AI, with Kingdee Intl.

plunging 8.0%, followed by SenseTime (-6.1%), Kuaishou Tech.

(-2.6%), and Alibaba Hong Kong (-2.4%).



News Stream
Hang Seng Retreats 1.8% as Trade Tensions Flare
The Hang Seng plunged 491 points, or 1.8%, to end at 26,590 on Tuesday, erasing most of the prior session’s gains following Wall Street’s sharp drop Monday on renewed tariff anxiety and geopolitical tensions. The benchmark index dipped from a near two-week top, with broad weakness across sectors, including consumer, tech, and financials. Traders shrugged off added liquidity in regional markets with China and Japan reopening from holidays, as their focus shifted to fresh friction between Beijing and Tokyo after China barred exports of dual-use items to 20 Japanese firms with alleged military ties. Still, losses were partly cushioned by notable gains in mainland stocks on bets that a U.S. tariff reset could benefit China. CK Hutchison slid 2.7% after Panama canceled the company's port contracts following a court ruling. Meantime, tech names tracked U.S. jitters over AI, with Kingdee Intl. plunging 8.0%, followed by SenseTime (-6.1%), Kuaishou Tech. (-2.6%), and Alibaba Hong Kong (-2.4%).
2026-02-24
Hong Kong Stocks Drop Sharply Amid U.S. Trade Uncertainty
Hong Kong shares tumbled 489 points, or 1.8%, to 26,604 in Tuesday morning trade, reversing a 2.5% rally in the prior session after a plunge on Wall Street overnight due to renewed U.S. trade policy uncertainty following President Trump’s new global tariff in the wake of a Supreme Court ruling. Markets pulled back from a two-week top, with broad sector falls. Tech slid over 2% ahead of Nvidia’s earnings, while consumer and financials fell after local data showed the city's jobless rate hit an over three-year high of 3.9% in the three months to January. Investors also awaited key releases this week, including Hong Kong's Q4 GDP, January inflation, and trade figures. Still, a rebound in the Shanghai Composite helped limit losses as Chinese markets reopened post-Lunar New Year, while the PBoC left its loan prime rates unchanged at record lows for the ninth straight month. Notable decliners included Tencent Music Ent. (-4.3%), Laopu Gold (-3.9%), Pop Mart Intl. (-3.4%), and SMIC (-1.8%).
2026-02-24
Hang Seng Jumps 2.5% to End at Near 2-Week High
The Hang Seng surged 669 points, or 2.5%, to close at 27,082 on Monday, swinging from weakness in the prior session amid robust gains across sectors. Sentiment improved as traders anticipated lower levies for China after the U.S. Supreme Court struck down Trump’s sweeping tariff measures. The benchmark index hovered near a two-week high, further boosted by news that Hong Kong will spend HKD 4 billion to buy out owners of homes destroyed in November’s high-rise fire. Meanwhile, mainland markets will reopen Tuesday after the week-long Lunar New Year break, with early holiday data signaling “broadly firm” demand, according to Citi analysts. Tech stocks led the rally, with the sector index jumping over 3% from Friday’s seven-month low, buoyed by optimism over China’s AI sector. SMIC climbed 4.6%, while Alibaba Hong Kong gained 3.6% and Tencent rose 3.5%. Gold-linked shares also surged alongside bullion, including Zijin Gold Intl. (7.2%), Zhojin Mining (5.6%), and Laopu Gold (2.8%).
2026-02-23