---
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/277426511.md"
description: "At the close of the Hong Kong stock market, the Hang Seng Index fell by 2.14%, and the Tech Index dropped by 2.89%. Technology stocks performed poorly, with SenseTime down 9.4%, and Meituan, Alibaba, and Baidu all falling over 4%. In contrast, oil and gas stocks performed strongly, with Shandong Molong rising 116% and SINOPEC SSC up 34%"
datetime: "2026-03-02T08:09:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/277426511.md)
  - [en](https://longbridge.com/en/news/277426511.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/277426511.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/277426511.md) | [繁體中文](https://longbridge.com/zh-HK/news/277426511.md)


# 

At the close of the Hong Kong stock market, the Hang Seng Index fell by 2.14%, and the Tech Index dropped by 2.89%. Technology stocks continued to be sluggish, with SenseTime (00020.HK) down 9.4%, Meituan (03690.HK), Alibaba (09988.HK), and Baidu (09888.HK) each falling over 4%. Oil and gas stocks performed strongly against the trend, with Shandong Molong (00568.HK) rising 116% and SINOPEC SSC (01033.HK) increasing by 34%

### Related Stocks

- [BIDU-SW (09888.HK)](https://longbridge.com/en/quote/09888.HK.md)
- [iShares US Oil Equipment & Services ETF (IEZ.US)](https://longbridge.com/en/quote/IEZ.US.md)
- [KraneShares 2x Long BABA Daily ETF (KBAB.US)](https://longbridge.com/en/quote/KBAB.US.md)
- [SSC (600871.CN)](https://longbridge.com/en/quote/600871.CN.md)
- [SINOPEC SSC (01033.HK)](https://longbridge.com/en/quote/01033.HK.md)
- [SENSETIME-W (00020.HK)](https://longbridge.com/en/quote/00020.HK.md)
- [BABA-W (09988.HK)](https://longbridge.com/en/quote/09988.HK.md)
- [Stt Strt®SPDR®S&P®Oil &GasEqpmnt&SvcsETF (XES.US)](https://longbridge.com/en/quote/XES.US.md)
- [VanEck Oil Services ETF (OIH.US)](https://longbridge.com/en/quote/OIH.US.md)
- [Alibaba Group Holding Limited (BABA.US)](https://longbridge.com/en/quote/BABA.US.md)
- [GraniteShares 2x Long BABA Daily ETF (BABX.US)](https://longbridge.com/en/quote/BABX.US.md)
- [MEITUAN-W (03690.HK)](https://longbridge.com/en/quote/03690.HK.md)
- [Shandong Molong (002490.CN)](https://longbridge.com/en/quote/002490.CN.md)
- [SHANDONG MOLONG (00568.HK)](https://longbridge.com/en/quote/00568.HK.md)
- [SttStrtSPDRS&POil&GasExplor&ProdtnETF (XOP.US)](https://longbridge.com/en/quote/XOP.US.md)

## Related News & Research

- [Sinopec Oilfield Service Plans Up to 5 Billion Yuan Corporate Bond Issuance](https://longbridge.com/en/news/279380750.md)
- [Alibaba's AI strategy shift comes into focus with big bets on agents](https://longbridge.com/en/news/279550043.md)
- [Canada's Alvopetro Energy Q4 net income more than doubles](https://longbridge.com/en/news/279498984.md)
- [Alibaba: Goal Is To Surpass $100 Bln In Combined Cloud, AI External Revenue Over Next 5 Yrs - Conf Call](https://longbridge.com/en/news/279792744.md)
- [Battalion Oil Closes Oil, Gas Asset Purchase From RoadRunner Resource in All-Stock Deal](https://longbridge.com/en/news/279852752.md)