---
title: "Trump expects the conflict to last for 4 weeks, the Hang Seng Index once fell by over 700 points, WUXI BIO dropped by 50%, XINYI GLASS rose by 12% against the market trend | Hong Kong stock market opens"
description: "The Hang Seng Index opened 324 points lower this morning, once falling 748 points to 25,882 points, currently reported at 26,021 points, down 608 points or 2.29%. WUXI BIO fell over 5%, while XINYI GL"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/277395235.md"
published_at: "2026-03-02T02:56:38.000Z"
---

# Trump expects the conflict to last for 4 weeks, the Hang Seng Index once fell by over 700 points, WUXI BIO dropped by 50%, XINYI GLASS rose by 12% against the market trend | Hong Kong stock market opens

> The Hang Seng Index opened 324 points lower this morning, once falling 748 points to 25,882 points, currently reported at 26,021 points, down 608 points or 2.29%. WUXI BIO fell over 5%, while XINYI GLASS rose nearly 12% against the trend. Trump expects the Iran conflict to last about 4 weeks, slightly easing market tensions. The Saudi stock market opened down 4.8%, and Bitcoin briefly rebounded to over $68,000. Analysts indicate that the war may have a slight impact on Hong Kong stocks, with attention on whether the Hang Seng Index can hold above 26,300 points

10:45: The Hang Seng Index opened 324 points lower this morning. Although the decline narrowed to 227 points at one point, reaching a high of 26,403 points, it gradually weakened afterwards, dropping 748 points to 25,882 points, currently reporting at 26,021 points, down 608 points or 2.29%, barely holding above the 26,000 mark. Among blue-chip stocks, WuXi AppTec (2269) once fell over 5%, Sunny Optical (2382), Xiaomi (1810), JD Health (6618), and Baidu (9888) all dropped over 4%; in contrast, Xinyi Glass (868) rose nearly 12%, China Hongqiao (1378) increased over 3%, while CNOOC (883) and PetroChina (857) rose 2.6% and 1.6% respectively.

—————

The conflict between the U.S. and Iran has caused turbulence in the financial markets, but the market's tense atmosphere has slightly eased following the confirmation of Khamenei's death. The Saudi Arabia stock market index TASI initially plummeted 4.8% at the opening, but the decline narrowed, ultimately closing down only 2.2%; after the outbreak of war, Bitcoin plummeted on Saturday, barely holding above the $63,000 mark, and yesterday rebounded to over $68,000 at one point. Analysts suggest that the war may have a slight impact on Hong Kong stocks and stimulate gold and oil prices to rise, with future attention on whether the Hang Seng Index can hold above 26,300 points.

## Trump predicts conflict will last 4 weeks

According to foreign media reports, Trump expects the Iran conflict to last about 4 weeks, stating, "This is a big country, and the time required is about 4 weeks or so - or shorter," adding that the outcomes of the attacks so far have not surprised him. The Hang Seng Index opened 324 points or 1.22% lower, reporting at 26,305 points. The spot gold price once rose to $5,393; currently reporting at $5,332, up about 1%.

Related articles: After the outbreak of the U.S.-Iran war, three major trends in the market, oil prices may reach $100, how significant is the $400 billion cooperation between China and Iran?

## Tech stocks generally down, Alibaba opens down over 2%

Tech stocks are generally down, with Alibaba (9988) opening down 2.3%; Tencent (700) down 1.2%; Meituan (3690) down 1.9%; JD (9618) down 1.4%; Baidu (9888) also down 2.5%.

## Chifeng Gold rises nearly 5%, Shandong Gold up 4%

However, oil and gold stocks are favored, with CNOOC (883) rising 5%; PetroChina (857) up 5.9%; Sinopec (386) rising 2.4%. In terms of gold-related stocks, Chifeng Gold (6693) rose 4.9%; Shandong Gold (1787) up 3.9%; Zhaojin (1818) up 3.2%; Zijin Mining (2899) and its subsidiary Zijin Gold International (2259) rose 2.5% and 2.2% respectively.

## Electric vehicle companies announce February data

In addition, Chinese electric vehicle companies have announced their February data. Affected by multiple factors such as the Spring Festival holiday, industry off-season, and the resumption of the new energy vehicle purchase tax, the overall car market showed a general month-on-month decline. Among them, Leapmotor (9863) increased by 11% year-on-year to 28,067 vehicles, but its stock price still fell 2.4% this morning; Xiaomi (1810) saw a monthly decrease in vehicle deliveries of 48%, with its stock price falling by 2%. Meanwhile, BYD (1211) also experienced a 2% drop in stock price.

Related article: In February, China's electric vehicle deliveries saw Leapmotor record 28,000 units, while BYD's sales fell by 40%.

## Guo Sizhi: The war may not last long

Guo Sizhi, vice chairman of the Hong Kong Stock Analysts Association, stated that the market was already aware of the U.S. military deployment before the outbreak of the war, so the expected impact would not be too significant, and the war may not last long. He estimates that the Hong Kong stock market will show volatility in early March, with the Hang Seng Index possibly testing 26,000 and 26,200 points, as funds may shift to safer investments due to market instability.

## Nie Zhenbang: The Hang Seng Index may find support at 26,200

Nie Zhenbang, chief analyst at GaoGe Securities, pointed out that excluding the war situation, U.S. stocks were soft last Friday, including most of the U.S. tech giants, which may drag down large tech stocks in Hong Kong. Therefore, he believes that the market will increase selling pressure due to the war situation. However, the Hong Kong stock market may not decline significantly, with the Hang Seng Index likely finding support at 26,200 and 26,300 points, as the death of Iran's Supreme Leader Khamenei may accelerate the end of the conflict in the short term.

## OPEC+ considers larger production increases

As an oil-producing country, Iran's announcement by the Revolutionary Guard to ban any vessels from passing through the Strait of Hormuz may push oil prices higher. However, Bloomberg reported that the Organization of the Petroleum Exporting Countries and allies (OPEC+) held a meeting yesterday to consider larger production increases, which may offset the impact. OPEC+ representatives predicted last week that after a three-month freeze on production increases, they would gradually restore moderate output starting in April, having previously increased daily production by 137,000 barrels month-on-month in the fourth quarter of last year. Brent crude oil was reported at $72.48 per barrel last Friday, while New York crude oil was at $67.02 per barrel. Bloomberg industry research analysts expect Brent crude oil to rise to $80 per barrel in the short term. Guo Sizhi mentioned that port export blockades will stimulate oil prices upward, leading to inflation and affecting the pace of U.S. interest rate cuts.

## Wu Lixian: Gold prices are expected to test $5,600

Wu Lixian, a securities strategist at Everbright Securities International, predicts that oil prices may test $70 or higher, while gold prices will rebound significantly, initially testing the $5,300 and $5,400 levels, and moving towards the larger resistance at $5,600.

Looking ahead to this week, China's National People's Congress will convene on Wednesday, the same day the manufacturing Purchasing Managers' Index (PMI) for February will be announced. In the U.S., the non-farm payroll report will be released this Friday. The earnings season for Hong Kong stocks continues, with JD.com (9618), Bilibili (9626), and MINIMAX (100) among those announcing their results

### Related Stocks

- [02269.HK - WUXI BIO](https://longbridge.com/en/quote/02269.HK.md)
- [00868.HK - XINYI GLASS](https://longbridge.com/en/quote/00868.HK.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.