HK stocks tumble as Middle East tensions rattle investors
發佈日期: 2026-03-23 19:59
TVB News
Fears of escalating tensions in the Middle East triggered a broad sell-off across Asia-Pacific markets.
In Hong Kong, the Hang Seng Index plunged more than 1,000 points at one point, extending losses for a third straight session.
As the turmoil in the Middle East continues to rattle Asia-Pacific markets, Hong Kong was not spared from the dip.
The city's benchmark Hang Seng Index opened sharply lower by 488 points breaching the 25,000 mark.
Losses deepened throughout the session with the index at one point sliding 1,073 points -- its lowest level since July last year.
It eventually closed down 894 points at 24,382 with turnover at 368.6 billion dollars.
A market strategist says geopolitical uncertainty could continue to drag sentiment, but he says a protracted conflict on the scale of the Russia-Ukraine war is unlikely, given the mounting financial burden on the US and the potential impacts on its economy, inflation and upcoming elections.
He adds that the Hang Seng's near-term support level is at around 23,000 points.
Financial stocks led the decline with HSBC sliding 4 percent, slipping below 120 dollars.
Gold prices weakened further, dragging down mining stocks.
Tech stocks also weighed on the market.
Kuaishou, Alibaba and Meituan each dropped around 3 percent.
Only two blue chips were spared with the China National Offshore Oil Corporation or CNOOC holding steady and Geely Auto gaining about 2 percent.
On the mainland, all four major indices retreated with both the Shanghai Composite and Shenzhen Component Index down around 3 percent.
