Hang Seng Index Reverses 311-Point Drop to Close Up 159 Points

The Hang Seng Index reversed a 311-point intraday drop to close up 159 points at 24373 (0.66%) today, recovering from a low of 23902 points. The afternoon session saw strong buying pressure that erased morning losses and pushed the index nearly 200 points higher from its trough. Middle East geopolitical tensions escalated overnight, driving international oil prices and US bond yields higher, which dragged US stocks lower and initially pressured Hong Kong equities at the open.

Hang Seng Index Reversed 311-Point Drop to Close Up 159 Points

The Hang Seng Index opened down 32 points and sellers immediately extended losses, with the index falling a maximum of 311 points to reach an intraday low of 23902 points. The index stabilized and briefly turned positive before closing the morning session down 113 points. Buyers launched a counterattack in the early afternoon session, with the market recovering lost ground and rising nearly 200 points. As of 2 PM, the Hang Seng Index stood at 24373 points, up 159 points or 0.66%. The Hang Seng China Enterprises Index rose 52 points or 0.66% to 8118 points. The Hang Seng Tech Index gained 9 points or 0.2% to 4686 points.

Tech Stocks Showed Mixed Performance with Baidu Down 7.5%

Tech stocks displayed divergent movements during the session. Tencent (00700) fell 0.7% to 454.4 HKD. Alibaba (09988) declined 0.5% to 110.2 HKD. Meituan (03690) rose 1.3% to 79 HKD. Baidu (09888) dropped 7.5% to 105.7 HKD, making it the worst-performing blue chip stock. JD.com (09618) fell 0.5% to 113.8 HKD. Xiaomi (01810) declined 0.4% to 25.74 HKD. NetEase (09999) gained 1.9% to 211 HKD.

Jiantao Group Stocks Surged Over 9%

Jiantao Group-related stocks showed significant rebounds during the session. Jiantao Group (00148) rose 9.5% to 65.05 HKD. Jiantao Laminate (01888) surged 13.4% to 57.9 HKD.

FAQ

What caused the Hang Seng Index to reverse its losses today? The Hang Seng Index opened down 32 points and fell a maximum of 311 points to 23902 before buyers launched a counterattack in the early afternoon session, recovering lost ground and pushing the index up 159 points to close at 24373 (0.66%). The reversal was driven by afternoon buying pressure that erased morning losses.

Which tech stock performed worst in today's Hong Kong stocks trading? Baidu (09888) was the worst-performing blue chip stock, falling 7.5% to 105.7 HKD during the session.