Hong Kong's Hang Seng Index Falls Over 300 Points, Auto Stocks Surge

Hong Kong's Hang Seng Index fell 127 points or 0.53% to 24,086 points as of 10:52 a.m. today, after plunging over 300 points and dipping below the 24,000 level earlier due to rising geopolitical tensions in the Middle East and higher U.S. Treasury yields. The National Index dropped 41 points or 0.52% to 8,024 points, while the Tech Index declined 63 points or 1.36% to 4,613 points.

China's automakers defied the broader weakness, with BYD rising 2.2% to 85.8 Hong Kong dollars, Ideal Auto up 2.3% to 48.3 dollars, Li Auto gaining 0.7% to 18.3 dollars, NIO surging 6.8% to 39.96 dollars, and XPeng Group advancing 1.6% to 51.6 dollars.