Hong Kong Stocks Under Pressure But Set for Strong Monthly Gains
Shares in Hong Kong plunged 309 points or 1.3% to 23,415 on the last trading day of February, marking a second session of losses. Sentiment deteriorated as the US will impose an additional 10% tariff on Chinese imports on March 4 while moving forward with 25% levies on products from Canada and Mexico.
The Hang Seng fell further from its highest in over three years, hit earlier in the week, and was on track for its first weekly drop in seven, with all sectors suffering sharp losses.
The tech index tumbled over 2.5% as an AI-driven rally lost steam after Nvidia’s underwhelming earnings results. Horizon Robotics led losses with an 8.2% drop, followed by Longfor Group (-4.1%), Geely Auto (-3.4%), and Sunny Optical Tech (-2.8%). Still, markets were on course for solid monthly gains, up around 15% so far, marking a third month of rises as hopes mounted that China’s 2025 Two Sessions meeting next week will outline key policy priorities, including potential support measures for the economy.
Source: Trading Economics
