Bearish
Hang Seng Index plunges 2.7% to 23,943, marking largest drop since July 2026.
The Hang Seng Index experienced a significant decline of 2.7%, closing at 23,943, the steepest drop since July 2026. This downturn was driven by rising U.S. Treasury yields, which reached 5.34%, the highest since 2002, and elevated oil prices, with Brent crude at approximately $102.6 per barrel. Additionally, the absence of Southbound Stock Connect flows, due to mainland markets being closed, further dampened investor sentiment.
Key points
- U.S. Treasury yields hit 5.34%, the highest since 2002, fueling inflation and interest-rate concerns.
- Oil prices remain elevated, with Brent crude at $102.6 per barrel, amid Middle East supply disruptions and China's suspension of refined-fuel exports.
- Technology stocks under pressure due to higher yields and U.S. restrictions on advanced AI hardware.
- Absence of Southbound Stock Connect flows as mainland markets remained closed, amplifying the selloff.
Sources
AI-generated from public news sources. Not financial advice.
