The Hong Kong stock market is witnessing a sharp sell-off, with the Hang Seng Index plunging by 11%, marking its steepest one-day fall since the 2008 global financial crisis. The Hang Seng Tech Index has dropped over 15%, as major Chinese tech stocks face intense pressure — Li Auto and Xiaomi have both fallen more than 15%, while Alibaba has slumped over 16%.
China’s stock futures are also in freefall. The CSI 300 Index futures, representing the country’s major stocks, are down more than 7%. The SSE 50 Index futures, which track China’s top 50 blue-chip companies, have dropped nearly 6%. Meanwhile, the broader CSI 500 and CSI 1000 futures, reflecting mid- and small-cap stocks, have seen even steeper declines — down over 8% and 9%, respectively.
Bloomberg News: China is considering speeding up its economic stimulus plans to deal with the impact of new tariffs from Trump.
The Chinese Vice Commerce Minister told American companies that the Commerce Ministry will continue to protect foreign businesses in China, including U.S. companies.
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