Hong Kong Markets Drop Over 2% Amid U.S. Economic Uncertainty, Asia’s Stock Performance Mixed

Hong Kong’s stock market took a significant hit on Friday, with the Hang Seng Index plunging 2.19% to end the day at 23,689.72. This decline was primarily driven by losses in the healthcare and consumer cyclical sectors, as investors remained cautious amid ongoing uncertainty surrounding the U.S. economy. Mainland China’s CSI 300 also fell by 1.52%, closing at 3,914.7, reflecting broader regional concerns.

Other Asian markets showed mixed performance. Japan’s Nikkei 225 dropped slightly by 0.2% to 37,677.06, while the broader Topix index saw a slight gain of 0.29%, closing at 2,804.16. The Topix index reached a high of 2,818.04 earlier in the day, marking its highest level since July 2024. Meanwhile, South Korea’s Kospi continued its positive streak, adding 0.23% to close at 2,643.13, while the smaller Kosdaq index dipped 0.79%.

Australia’s S&P/ASX 200 saw a modest gain of 0.16%, finishing at 7,931.2. Economic data from Japan showed a slight easing of inflation, with the country’s headline inflation rising 3.7% year-on-year in February, down from a higher 4% in January, which may have influenced investor sentiment positively.

In the U.S., stock futures remained stagnant after an earlier attempt to extend Wednesday’s rally lost momentum. The S&P 500 slid 0.22% to close at 5,662.89, and the Nasdaq Composite dropped 0.33%, ending at 17,691.63, largely due to losses in major tech stocks like Apple and Alphabet. The Dow Jones Industrial Average inched down by 0.03%, closing at 41,953.32, contributing to the uncertain global economic outlook.

source: cnbc