Hong Kong Shares Plunge More Than 13% in Worst Day Since 1997

Hong Kong Shares Plunge More Than 13% successful Worst Day Since 1997

Hong Kong shares sank arsenic the planetary commercialized warfare escalated. Markets are bracing for an accelerated decoupling of the world's 2 largest economies pursuing China's tit-for-tat tariffs connected the U.S. connected Friday.

The city's benchmark Hang Seng Index ended 13.2% little astatine 19828.30, its steepest one-day percent driblet since the 1997 Asian fiscal crisis. The session's declines pursuing a holiday-shortened week erased the HSI's gains twelvemonth to date, taking the scale into the reddish for 2025.

The Hang Seng Tech Index slid 17.2%, with Xiaomi skidding 20.6% and Lenovo Group diving 22.9%. Tech giants Tencent and Alibaba tumbled 12.5% and 18.0%, respectively.