【Hong Kong Stock Market】Hang Seng Index Opens Lower by 488 Points, HSBC and AIA Both Drop 3%, Alibaba and Tencent Fall 2% (Continuously Updated)

【Hang Seng Index / Hang Seng / HS / HSI / Hong Kong Stocks / Night Futures / ADR】Hong Kong stocks fell nearly 500 points amid escalating Middle East conflict, with the Hang Seng Index opening down 488 points at 24,789, with a turnover of HKD 8.42 billion. The Tech Index dropped 1.9% to 4,780 points. HSBC (00005) and AIA (01299) declined over 3%, Alibaba (09988) fell over 2%, and Tencent (00700) dropped 2%.

US market updates ongoing, see details on the next page

Financial Daily:

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Market Trends:

【09:22】 Hang Seng Index opened down 488 points at 24,789, with a turnover of HKD 8.42 billion. The Tech Index fell 1.9% to 4,780 points. HSBC (00005) and AIA (01299) declined over 3%, Alibaba (09988) dropped over 2%, and Tencent (00700) fell 2%.

【09:08】Hong Kong futures down about 556 points at 24,694.

【08:59】【6693】Chifeng Gold receives Zijin Investment, becomes sole largest shareholder.

【07:38】【IPO】Copper Master 664 raises up to HKD 500 million; copper-based cultural and creative products IP licensing including Nezha, Transformers, GOT, etc.; entry fee HKD 6,869.

【07:58】【IPO】Furier 3625 raises up to HKD 600 million; audio amplification chips and haptic feedback chip supplier; entry fee HKD 5,050.

【07:45】【Morning Brief】US and Iran threaten to strike civilian infrastructure; Xiaomi earnings on Tuesday; memory stocks affected.

【07:45】US rate hike expectations rise, 10-year Treasury yield jumps to 4.38%. Night futures close down 525 points, at 24,725. The China concept stock index drops 2.9% to 6,742. HSBC ADRs are down nearly 3%.

| ADR | HKD Equivalent | Change from Hong Kong Close | | Meituan ADR | 77.35 | -2.27% | | Tencent ADR | 497.42 | -2.08% | | HSBC ADR | 120.56 | -3.17% | | Alibaba US Stocks | 119.86 | -3.10% |

More Hong Kong ADRs and Chinese concept stock quotes:

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【07:30】Tensions in Iran escalate. US President Trump on Friday said, “I don’t want a ceasefire.” Energy prices fluctuate, Dow drops over 600 points at one point; US long-term bond yields hit a half-year high, market now prices in a 40% chance of rate hike in September. Dow closes down 443 points at 45,577; S&P drops 1.51%, Nasdaq falls 2.01%.

See US market close details:

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Hong Kong stocks yesterday, for details see: 【Hong Kong Night Futures + ADR + Northbound Funds】 Night futures close down 525 points; HSBC ADR down nearly 3%.