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<H Shrs>HSI Ends Plunging 3,021 pts or 13.2%, Largest Single-Day Point Rout Ever w/ Turnover at Record High $620.9B
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US President Donald Trump's reciprocal tariffs set off global financial turmoil, keeping US stock futures trapped in a downturn. Meanwhile, Hong Kong stocks resumed trading after the Qingming Festival long weekend but faltered alongside the external markets. The HSI closed the day down 3,021 points or 13.2% at 19,828, marking the largest single-day point decline ever. The HSCEI sank 1,157 points or 13.8% to close at 7,262. The HSTECH slipped 911 points or 17.2%, closing at 4,401. The total market turnover for the day amounted to $620.898 billion, also setting a record high for a single day. The US National Institutes of Health banned China from accessing its genetic and disease databases. Pharma stocks GENSCRIPT BIO (01548.HK), WUXI APPTEC (02359.HK), INNOVENT BIO (01801.HK), BEIGENE (06160.HK), CANSINOBIO (06185.HK), AKESO (09926.HK), PHARMARON (03759.HK), and WUXI BIO (02269.HK) plummeted 20-26%. The remaining blue-chip pharma stocks, HANSOH PHARMA (03692.HK), SINO BIOPHARM (01177.HK), and CSPC PHARMA (01093.HK), waned 13-14%. In the tech sector, TENCENT (00700.HK) fell 12.5% to $435.4. BIDU-SW (09888.HK), MEITUAN-W (03690.HK), and JD-SW (09618.HK) eroded 14-15.5%, while NTES-S (09999.HK), BABA-W (09988.HK), KUAISHOU-W (01024.HK), and BILIBILI-W (09626.HK) dived 18-20%. XIAOMI-W (01810.HK) dropped 20.6% to $36.45. Handset component stocks were slammed. Q TECH (01478.HK) ebbed 18%. AAC TECH (02018.HK), SUNNY OPTICAL (02382.HK), BYD ELECTRONIC (00285.HK), FIH (02038.HK), and FIT HON TENG (06088.HK) nosedived over 20%. COWELL (01415.HK) cratered 32%. KINGDEE INT'L (00268.HK), WEIMOB INC (02013.HK), HORIZONROBOT-W (09660.HK), KINGSOFT CLOUD (03896.HK), GDS-SW (09698.HK), and LENOVO GROUP (00992.HK) slid 21-26%. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) slumped over 16%, while chip equipment stock ASMPT (00522.HK) tumbled 17.4%. Among car makers, XPENG-W (09868.HK), GEELY AUTO (00175.HK), and LEAPMOTOR (09863.HK) tumbled 20-25%. NIO-SW (09866.HK), BYD COMPANY (01211.HK), LI AUTO-W (02015.HK), and GWMOTOR (02333.HK) fell 15-18%. AAStocks Financial News |
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