News Flash: Hang Seng Index opens 1.82% lower, Tech Index down 2.1%, tech stocks subdued, gold stocks fall broadly, oil and gas stocks open higher, Shandong Molong rises over 14%

MaticHoleFiller · 2026-03-20T18:09:46+00:00

U.S. stocks fell significantly due to Middle East tensions and inflation concerns, with all three major indices closing lower. Hong Kong stocks opened lower today, with the Hang Seng Index down 1.82%, tech stocks generally declining, oil and gas equipment stocks rising, and AI and chip stocks showing significant volatility.

MaticHoleFiller

2026-03-20 18:09:46

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U.S. stocks plunged sharply on Wednesday amid rising tensions in the Middle East, which boosted oil prices significantly. Inflation concerns persisted, reducing expectations for Federal Reserve rate cuts, negatively impacting the market. All three major indices closed lower. The U.S. dollar strengthened, with the 10-year Treasury yield rising to 4.26%. Gold prices declined notably, while oil prices surged.

Today, Hong Kong’s three major indices opened lower across the board. The Hang Seng Index dropped 1.82% to 25,550.56 points, the Hang Seng Tech Index fell 2.1%, and the China Enterprises Index declined 1.62%. Market-wise, tech stocks mostly fell, with Tencent and Bilibili down over 4%, Kuaishou and Alibaba down over 3%, NetEase and JD.com down over 2%. Oil and gas equipment and service stocks opened higher, with Shandong Moluo rising over 14%. AI application stocks partially retreated, with Minimax down over 5%. Chip stocks mostly declined, with Tianzhi ZhiXin dropping over 4%. Gold stocks opened lower, with Zijin Gold International down over 4%.

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Editor: Hao Xinyu

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