Hang Seng Index Trend | Decline widens to over 200 points, losing the bull-bear line and testing the 25,000 again

SighingCashier · 2026-04-02T04:36:06+00:00

Asia-Pacific stocks and A-shares retreat, Hong Kong stocks opened lower today after rising over 500 points yesterday and fell more than 200 points, with the Hang Seng Index losing the 250-day moving average. Technology stocks became the drag, with several stocks like Alibaba and Tencent declining, while Sunny Optical performed the best. The market's optimism about the end of the war with Iran has given way to reality.

SighingCashier

2026-04-02 04:36:06

Abstract generation in progress

The market is still anticipating that the war with Iran is nearing its end, but after the initial excitement fades, it returns to reality, with Asia-Pacific stock markets and China’s A-shares easing this morning. After Hong Kong stocks rose by more than 500 points yesterday, they opened lower and traded down this morning. The benchmark is currently down by more than 200 points, and has slipped again below the 250-day moving average line—commonly known as the bull-bear line (currently at 25141). The 25,000 level is once again under pressure.

The Hang Seng Index opened 39 points lower at 25,254 points, which was already the intraday high. After that, losses gradually widened. As of 10:41 a.m., the Hang Seng Index was at 25,040 points, down 253 points, or 1%. The China Enterprises Index was down 77 points, or 0.91%, at 8,427 points; the Hang Seng Tech Index was down 91 points, or 1.93%, at 4,664 points.

Tech and internet stocks took the hit, dragging the market. Alibaba (09988) fell 3.3% to 118.7 yuan; Tencent (00700) was down 1.3% to 490 yuan; Baidu (09888) slipped 1% to 108.5 yuan. Meituan (03690) dropped 3.5% to 79.1 yuan; Xiaomi (01810) fell 4% to 30.74 yuan; Kuaishou (01024) was down 2.9% to 44.86 yuan.

Longfor Group (00960) fell 4.4% to 7.56 yuan, temporarily the worst-performing blue-chip. Sunny Optical (02382) rose 5.2% to 59.9 yuan, temporarily the best-performing blue-chip.

HSBC (00005) rose 1.5% to 128.4 yuan; China Mobile (00941) fell 0.1% to 79.75 yuan.

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