Hang Seng Index Trend | During the early afternoon session, it fell more than 300 points, losing the 25,000 mark

Market optimism that the Middle East conflict is nearing its end is fading after the excitement, and Asia-Pacific equities and China A-shares slipped again this morning. After Hong Kong shares rose by more than 500 points yesterday, they opened lower and trended lower ahead of the eve of the Easter holiday, with the morning session already falling below the 250-day moving average commonly known as the bull-bear line (currently at 25141). In the early afternoon, the search for the bottom continued, losses widened to more than 300 points, and the 25,000 level was breached.

The Hang Seng Index opened 39 points lower, at 25254 points, which was also the high point of the morning session. Thereafter, the bears gradually pushed toward the 25,000 level. By midday, the Hang Seng closed at 25017 points, down 276 points. In the afternoon, the bears continued their offensive. As of 1:22 p.m., the Hang Seng was at 24913 points, down 381 points or 1.51%.

The China Enterprises Index was down 120 points or 1.42% at 8384 points; the Hang Seng TECH Index was down 124 points or 2.62% at 4631 points.

Tech and internet stocks took a hit, dragging the market. Alibaba (09988) fell 4.1% to 117.7 yuan; Tencent (00700) fell 1.9% to 487 yuan; Baidu (09888) fell 1.5% to 108 yuan. Meituan (03690) fell 3.4% to 79.15 yuan; Xiaomi (01810) fell 4.5% to 30.58 yuan; Kuaishou (01024) fell 3.3% to 44.68 yuan.

HSBC (00005) fell 1.5% to 128.3 yuan; China Mobile (00941) fell 0.1% to 79.7 yuan.

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