Hang Seng Tumbles to Finish at 6-Week Low

2026-03-02 08:21 By Farida Husna 1 min. read

The Hang Seng slid 571 points, or 2.1%, to close at 26,060 on Monday, erasing prior gains and hitting a six-week low amid broad sector weakness.

A sell-off in U.S.

futures pressured sentiment as Middle East tensions escalated, with President Trump warning the conflict could last another four weeks and pledging continued strikes until U.S.

objectives are met.

Risk appetite also faded as Chinese automakers reported sharp sales declines in February, reflecting Lunar New Year disruptions in the world’s largest auto market.

Caution also mounted ahead of China’s February PMI and Hong Kong’s January retail sales data later this week.

Still, losses were partly offset by strength in mainland stocks on expectations that Beijing may step in to stabilize markets ahead of a key parliamentary meeting.

Meanwhile, investors rotated into Chinese energy firms as oil prices surged.

Major laggards included Xiaomi (-5.2%), SMIC (-4.7%), Meituan (-4.6%), Cathay Pacific (-4.2%), and Longfor Group (-2.3%).



News Stream
Hang Seng Tumbles to Finish at 6-Week Low
The Hang Seng slid 571 points, or 2.1%, to close at 26,060 on Monday, erasing prior gains and hitting a six-week low amid broad sector weakness. A sell-off in U.S. futures pressured sentiment as Middle East tensions escalated, with President Trump warning the conflict could last another four weeks and pledging continued strikes until U.S. objectives are met. Risk appetite also faded as Chinese automakers reported sharp sales declines in February, reflecting Lunar New Year disruptions in the world’s largest auto market. Caution also mounted ahead of China’s February PMI and Hong Kong’s January retail sales data later this week. Still, losses were partly offset by strength in mainland stocks on expectations that Beijing may step in to stabilize markets ahead of a key parliamentary meeting. Meanwhile, investors rotated into Chinese energy firms as oil prices surged. Major laggards included Xiaomi (-5.2%), SMIC (-4.7%), Meituan (-4.6%), Cathay Pacific (-4.2%), and Longfor Group (-2.3%).
2026-03-02
Hong Kong Shares Sink to 6-Week Low on Geopolitical Tensions
Hong Kong stocks plunged 667 points, or 2.5%, to 25,958 on the first trading day of March, notching a six-week low and reversing gains from the prior session. Sentiment soured after U.S. futures slumped, following President Donald Trump’s vow to “avenge” the deaths of three service members and continue combat operations in Iran. The renewed conflict heightened fears of oil shipment disruptions through the Strait of Hormuz, a key energy route. Traders also grew cautious ahead of China’s February PMI data. Losses were partly offset by modest gains in mainland shares, as expectations rose that the upcoming National People’s Congress, starting March 4, may unveil fresh support measures for tech, innovation, and domestic consumption. All sectors fell sharply, with declines ranging from 1.9% in consumer stocks to nearly 3% in financials. Notable laggards included SenseTime Group (-7.0%), Xiaomi (-4.0%), Cathay Pacific (-3.6%), Kuaishou Tech. (-3.4%), AIA Group (-3.3%), and SMIC (-3.2%).
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