Hong Kong Stocks Sink to 11-Week Low

2026-06-08 02:05 By Nicole Aliyah 1 min. read

The Hang Seng Index tumbled 305 points, or 1.2%, to close at 24,585 on Monday, extending last week's losses and the lowest level since late March.

The selloff mirrored a sharp global retreat in technology and AI-related stocks after stronger-than-expected U.S.

jobs data reinforced expectations that the Federal Reserve may keep interest rates higher for longer.

Broader risk sentiment was also weighed down by renewed geopolitical tensions after reports of Iranian missile launches toward Israel threatened a fragile ceasefire and pushed oil prices higher.

Technology and semiconductor-related shares led the decline, tracking a wider global AI-driven market correction.

Investors nevertheless viewed the pullback as largely driven by profit-taking rather than deteriorating fundamentals, with some market participants seeing the weakness as a potential buying opportunity.

Among the biggest drags were Tencent (-1.5%), SMIC (-4.1%), AIA Group (-1.8%), Lenovo (-1.3%), and Meituan (-3.5%).



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Hong Kong Stocks Sink to 11-Week Low
The Hang Seng Index tumbled 305 points, or 1.2%, to close at 24,585 on Monday, extending last week's losses and the lowest level since late March. The selloff mirrored a sharp global retreat in technology and AI-related stocks after stronger-than-expected U.S. jobs data reinforced expectations that the Federal Reserve may keep interest rates higher for longer. Broader risk sentiment was also weighed down by renewed geopolitical tensions after reports of Iranian missile launches toward Israel threatened a fragile ceasefire and pushed oil prices higher. Technology and semiconductor-related shares led the decline, tracking a wider global AI-driven market correction. Investors nevertheless viewed the pullback as largely driven by profit-taking rather than deteriorating fundamentals, with some market participants seeing the weakness as a potential buying opportunity. Among the biggest drags were Tencent (-1.5%), SMIC (-4.1%), AIA Group (-1.8%), Lenovo (-1.3%), and Meituan (-3.5%).
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The Hang Seng Index fell 291 points, or 1.2%, to close at 24,962 on Friday, marking its third consecutive session of losses as weakness in technology and financial shares continued to weigh on sentiment. Hong Kong equities tracked subdued regional trading after weakness in AI-related stocks on Wall Street prompted profit-taking among select technology and semiconductor shares. Investors also remained cautious amid uncertainty surrounding the fragile US-Iran ceasefire, as reports of stalled negotiations contrasted with President Donald Trump's assertions that talks were continuing and nearing completion. Hong Kong-listed shares of AIA Group also fell 3.5% amid concerns that tighter mainland China capital controls could weigh on global lenders with exposure to the region. Among the biggest drags on the benchmark were Semiconductor Manufacturing International Corporation (-7.2%), Tencent (-1.3%), Lenovo (-0.5%), Kingboard Laminates (-8.2%), and Xiaomi Corporation (-2.0%).
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