Hong Kong Stocks Drop Over 3%

2026-03-23 03:20 By Joshua Ferrer 1 min. read

The Hang Seng index dropped more than 3% to around 24,500 on Monday, hitting its lowest level since August 2025, as escalating tensions in the Middle East triggered a broad risk-off move across global markets.

Now in its fourth week, the war has kept investors on edge amid increasingly aggressive rhetoric and no clear path to de-escalation.

Iran warned it could strike regional energy infrastructure if US President Donald Trump follows through on threats to target its power grid should the Strait of Hormuz remain closed, heightening fears of supply disruptions and a prolonged conflict.

In turn, elevated oil prices have fueled inflation concerns and raised expectations for interest rate hikes from major central banks.

All Hong Kong sectors retreated, led by property, financials, and tech.

Notable laggards included AIA Group (-6.2%), SMIC (4.1%), and Sun Hung Kai Properties (-4.8%).

Zijin Mining also dropped 5.4% after announcing it had taken control of Chifeng Gold.



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