Hang Seng Index Movement | Bears Launch Attack, Index Falls Over 800 Points, 87 Blue Chips Turn Red

SighingCashier · 2026-03-23T07:19:04+00:00

Affected by the Iran conflict, Asia-Pacific stock markets fell broadly, with mainland A-shares dropping more than 2%. Hong Kong's Hang Seng Index fell over 800 points in early trading to 24,400 points, while the National Index and Tech Index also declined significantly. Insurance stocks and tech stocks were the main targets of selling, with some blue-chip stocks performing poorly, while only Geely Automobile and BYD rose against the trend.

SighingCashier

2026-03-23 07:19:04

Abstract generation in progress

The ongoing conflict in Iran continues to weigh on Asia-Pacific stock markets, which are following the decline of U.S. stocks last Friday. Mainland China’s A-shares fell more than 2%, and Hong Kong stocks opened lower and continued to decline this morning. The Hang Seng Index dropped over 800 points, falling to around 24,400 points.

The Hang Seng Index opened 488 points lower at 24,789, breaking below the 25,000 level shortly after the market opened. The bearish momentum persisted, and the decline accelerated toward the end of the early trading session. As of 11:19 a.m., the Hang Seng Index was down 854 points or 3.38%, at 24,422.

The China Enterprises Index fell 251 points or 2.93%, to 8,322; the Tech Index dropped 133 points or 2.73%, to 4,739.

China Hongqiao (01378) declined 11.8% to HKD 30.44, making it the worst-performing blue chip so far. Old-fashioned gold retailer Wong Tai Sin (06181) was under pressure, dropping 8.9% to HKD 556.5.

Insurance stocks also faced selling pressure. AIA (01299) fell 7.1% to HKD 79.9; China Life (02628) dropped 8% to HKD 25.92; Ping An (02318) declined 6.2% to HKD 57.95.

Technology and internet stocks generally declined. Alibaba (09988) fell 2.5% to HKD 120.6; Tencent (00700) dropped 1.4% to HKD 501; Kuaishou (01024) declined 3% to HKD 52.2; JD.com (09618) fell 3.6% to HKD 104.7; Meituan (03690) decreased 2.4% to HKD 77.25.

HSBC (00005) declined 4.5% to HKD 118.9; China Mobile (00941) fell 1.4% to HKD 77.7. Geely Auto (00175) rose 4.5% to HKD 20.4; BYD (01211) increased 1.4% to HKD 105.3, making it the best-performing among the two blue chips so far.

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