Hang Seng Drops 1.3%, Weakness Led by Alibaba and BYD
The Hang Seng Index fell 1.3% to 25,776.53 in Hong Kong, its biggest daily decline since a 1.9% plunge on March 26, following a 1.7% gain in the previous session. Pressure came broadly: 70 of 90 stocks fell, and all sectors were in the red, led by commerce and industrial stocks.
Alibaba Group Holding Ltd. was the biggest contributor to the index's decline, falling 3.5%, while BYD Co. recorded the deepest decline, falling 5.4%. The concentrated declines among major names confirm that today's decline is not just a slight correction, but rather a negative impact from large-cap constituents.
Despite the correction, longer-term performance remains constructive: the Hang Seng is up 4% so far this month and up 4% in the past 30 days, but is down 0.8% so far this week, potentially marking its biggest weekly decline since the week ended March 27. On a year-to-date basis, the index is up 17% in the 52-week period, but remains 8.1% below its 52-week peak of January 29, 2026, and 18% above its low of April 30, 2025.
In terms of valuation, the Hang Seng is trading at a P/E of 13.6 (trailing) and 11.7 times estimated one-year forward earnings, with a dividend yield of 2.9% and an aggregate market capitalization of approximately HK$30.8 trillion. Its 30-day volatility rose to 23.59% from 23.26% in the previous session, keeping the market focused on whether the pressure on leading decliners will continue and lead to deeper losses this week. (asd)
Source: Newsmaker.id
