Hang Seng Falls Below 26,000 as Financials Decline, Oil Stocks Rise
The Hang Seng Index faced significant pressures at the beginning of March 2026. Ongoing tensions in the Middle East have negatively impacted investor sentiment in the region. The index opened 324 points lower at 26,305 and continued to decline, ultimately closing down 714 points, or 2.68%, at 25,915.
Market Overview
The China Enterprises Index also experienced a drop, losing 219 points, or 2.47%, to reach 8,640. Additionally, the Tech Index decreased by 163 points, or 3.18%, closing at 4,974. The trading turnover on the main board was recorded at HK$116.2 billion.
Decline in Financial Stocks
Large-cap technology stocks were particularly underperforming. Key players included:
- Tencent: -2.0%
- Alibaba: -4.5%
- Meituan: -3.3%
- Xiaomi: -4.9%
- JD.com: -3.5%
- Kuaishou: -4.1%
Financial stocks also saw declines. Notable decreases included:
- HSBC: -4.1%
- AIA: -4.1%
- Standard Chartered: -4.7%
- Ping An: -3.6%
- Hong Kong Exchanges and Clearing: -2.7%
Oil Sector Performance
In contrast, oil stocks experienced a resurgence due to rising global crude prices. Significant movements in this sector included:
- CNOOC: +2.6%
- PetroChina: +1.7%
- Sinopec: little change
Oilfield services also showed remarkable gains, with:
