Breaking News: Hang Seng Index opens down 1.68%, Tech Index drops 2.78%. Tech and auto stocks mostly decline. Oil and gas equipment and service stocks open higher. Shandong Molong rises over 7%.

MaticHoleFiller · 2026-04-01T03:43:16+00:00

Last Friday, the U.S. stock market continued to decline due to tense Middle East tensions and high oil prices, with the three major indices all falling significantly. Hong Kong stocks opened lower today, with the Hang Seng Index and the Technology Index experiencing larger declines. Tech and internet stocks generally fell, while oil, gas, and aluminum stocks performed better. Insurance and automotive stocks weakened.

MaticHoleFiller

2026-04-01 03:43:16

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U.S. stocks continued to fall last Friday. There were no signs of easing in the situation in the Middle East. Oil prices stayed elevated, and market concerns grew that stagflation may be occurring. All three major indexes recorded notable declines by the close. The U.S. dollar trend was strong, with yields on the 10-year U.S. Treasury rising to the 4.44% level. Gold prices rebounded from low levels, while oil prices remained firm.

Today, Hong Kong stocks saw all three major indexes open lower together. The Hang Seng Index opened down 1.68%, at 24,532.85 points. The Hang Seng TECH Index fell 2.78%, and the China Enterprises Index dropped 1.81%. On the board, internet and technology stocks generally declined across the board. Baidu fell by more than 4%. Lenovo, Bilibili, and Alibaba fell by more than 3%. JD.com, Meituan, Xiaomi, and Kuaishou fell by more than 2%. Oil and gas equipment and services stocks opened higher—Shandong Molong rose by more than 7%. Aluminum stocks opened higher—China Aluminum rose by more than 5%. Insurance stocks opened broadly lower—Prudential fell by more than 4%. Auto stocks were weak—XPeng Motors fell by more than 4%. Most innovative drug concept stocks declined—Kangfang Biotech fell by more than 2%.

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Editor-in-charge: Hao Xinyu

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