Hang Seng Falls 1.8% as Tariff Issues Heat Up
The Hang Seng Index fell 1.8% on Tuesday (February 24th) to close at 26,590, erasing most of the previous day's gains. The decline came after Wall Street fell sharply on Monday, as markets were again gripped by tariff concerns and escalating geopolitical tensions.
Pressure came across sectors, from consumer discretionary to technology to financial, indicating a renewed decline in investor risk appetite. The Hang Seng also fell from near a nearly two-week high, as investors chose to reduce exposure to riskier assets.
Regional sentiment was also affected by escalating friction between Beijing and Tokyo. China reportedly restricted exports of dual-use goods to several Japanese companies accused of having links to military interests, heightening market concerns about escalating trade and technology relations in East Asia.
However, the Hang Seng's decline was partially offset by mainland Chinese stocks, which rose more than 1%, fueled by speculation that a change in US tariff policy could potentially give China some breathing room.
On the corporate side, CK Hutchison fell after Panama canceled the company's port contract, while technology stocks also suffered amid US market concerns about AI disruption—with companies like Kingdee, SenseTime, Kuaishou, and Alibaba Hong Kong posting sharp declines.
Source: Newsmaker.id
