Hang Seng Drops Most in Nearly a Year

2026-03-23 08:58 By Joshua Ferrer 1 min. read

Equities in Hong Kong tumbled 895 points, or 3.5%, to close at 24,382 on Monday, marking its biggest one-day drop since April 7 last year, as rising tensions in the Middle East triggered a sharp risk-off move and revived stagflation concerns.

Tensions intensified after US President Donald Trump warned of potential strikes on Iran’s power infrastructure, prompting Tehran to threaten retaliation against regional energy systems, raising uncertainty over the outlook of energy prices.

Analysts caution that higher input costs could pressure corporate profitability and weigh on jobs, while a sharp slowdown in global demand would pose further risks to China’s exports and broader economic growth.

Among notable laggards, Laopu Gold slumped 8.6% and Zijin Mining Group fell 5% as bullion prices dropped sharply, while Alibaba Group Holding and Tencent Holdings also declined.

In contrast, newly listed firms saw gains, with FS.com jumping on debut and Nsing Technologies posting solid early advances.



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Hang Seng Drops Most in Nearly a Year
Equities in Hong Kong tumbled 895 points, or 3.5%, to close at 24,382 on Monday, marking its biggest one-day drop since April 7 last year, as rising tensions in the Middle East triggered a sharp risk-off move and revived stagflation concerns. Tensions intensified after US President Donald Trump warned of potential strikes on Iran’s power infrastructure, prompting Tehran to threaten retaliation against regional energy systems, raising uncertainty over the outlook of energy prices. Analysts caution that higher input costs could pressure corporate profitability and weigh on jobs, while a sharp slowdown in global demand would pose further risks to China’s exports and broader economic growth. Among notable laggards, Laopu Gold slumped 8.6% and Zijin Mining Group fell 5% as bullion prices dropped sharply, while Alibaba Group Holding and Tencent Holdings also declined. In contrast, newly listed firms saw gains, with FS.com jumping on debut and Nsing Technologies posting solid early advances.
2026-03-23
Hong Kong Stocks Drop Over 3%
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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