--- title: "\"Hong Kong Stocks\" Hang Seng Index closed down 177 points, Alibaba and Xiaomi weak, car stocks generally surged" type: "News" locale: "en" url: "https://longbridge.com/en/news/281491457.md" description: "The Hong Kong stock market performed weakly, with the Hang Seng Index closing down 177 points at 25,116 points. Alibaba and Xiaomi's stock prices fell by 2.4% and 3.6%, respectively. Despite Chery's sales growth of 15% and a stock price increase of 15.3% among car stocks, BYD and Xiaomi still declined. The overall market turnover was HKD 243.628 billion, and technology stock Tencent also dropped by 1.5%" datetime: "2026-04-02T08:28:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281491457.md) - [en](https://longbridge.com/en/news/281491457.md) - [zh-HK](https://longbridge.com/zh-HK/news/281491457.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/281491457.md) | [繁體中文](https://longbridge.com/zh-HK/news/281491457.md) # "Hong Kong Stocks" Hang Seng Index closed down 177 points, Alibaba and Xiaomi weak, car stocks generally surged U.S. President Trump delivered a televised speech on the Iran issue, mentioning that there will be extremely severe strikes against Iran in the next two to three weeks, causing Brent crude oil futures to rise. Hong Kong stocks fell along with the external market, with the Hang Seng Index opening down 39 points and the decline widening, dropping to 24,901 points in the afternoon, a decrease of 392 points. The decline narrowed towards the end of the market, closing down 177 points or 0.7% at 25,116 points; the National Index fell 47 points or 0.6%, closing at 8,456 points; the Hang Seng Tech Index dropped 77 points or 1.6%, closing at 4,679 points. The total market turnover for the day was HKD 243.628 billion. In the oil sector, PetroChina (00857.HK) and CNOOC (00883.HK) rose 2.1% and 0.2%, respectively, while coal stocks Yanzhou Coal (01171.HK) and China Coal (01898.HK) increased by 3.1% and 3.7%. Gold mining stocks Zijin Mining (02899.HK), Zijin Gold International (02259.HK), Lingbao Gold (03330.HK), and China Gold International (02099.HK) fell by 3% to 4.3%. Resource stocks Jiangxi Copper (00358.HK), Luoyang Molybdenum (03993.HK), and China Minmetals (01208.HK) dropped by 2.8% to 3.4%. Airline stocks China Southern Airlines (01055.HK), China Eastern Airlines (00670.HK), and Air China (00753.HK) fell by 3.8% to 4.9%. In the automotive sector, BYD (01211.HK) fell 0.8%, while Xiaomi (01810.HK) dropped 3.6%. Chery's total sales last month increased by 15% year-on-year, with its stock price rising by 15.3%. Chang'an Automobile (02333.HK) saw a year-on-year sales growth of 8%, while Geely (00175.HK) had total sales roughly flat year-on-year, with their stock prices rising by 7.3% and 6.4%, respectively. Seres (09927.HK) saw a 21% year-on-year increase in new energy vehicle sales in March, but its stock price fell by 3.6%. Intelligent driving stocks Pony.ai (02026.HK) and Horizon Robotics (09660.HK) dropped by 7.6% and 4.1%, while Hesai Technology (02525.HK) rose by 3.7%. In the technology sector, Tencent (00700.HK) fell 1.5% to HKD 489.2, and Alibaba (09988.HK) dropped 2.4% to HKD 118.5. Kuaishou (01024.HK), Bilibili (09626.HK), and Meituan (03690.HK) fell by 2.1% to 2.8%, while JD.com (09618.HK), Baidu (09888.HK), and NetEase (09999.HK) dropped by 0.7% to 0.9%. Xindong (02400.HK) fell 5.3%. Smartphone component stock Sunny Optical (02382.HK) faced multiple broker downgrades but saw its stock price rise by 5.2%. Lens Technology (06613.HK) fell 9.4%. Electronic stock Hongteng Precision (06088.HK) dropped 9.5% AI stock Zhipu (02513.HK) and MiniMax (00100.HK) fell 14.9% and 10.4%, respectively, while Inspur Intelligent (03696.HK) and Yunzhisheng (09678.HK) dropped over 5%. Cloud service providers Kingsoft Cloud (03896.HK) and GDS Holdings (09698.HK) fell 3.8% and 3.7%. Among chip stocks, SMIC (00981.HK) declined 3.5%, while Hua Hong (01347.HK) and Tianshu Zhixin (09903.HK) fell 5.1%, and Biren Technology (06082.HK) dropped 6.6%. Fiber optic stock Yangtze Optical Fibre and Cable (06869.HK) rose 1.7%. Robotics stocks Yujian (02432.HK) and SUTENG (02498.HK) fell 3.9% and 4.3%. In the financial sector, HSBC (00005.HK) fell 0.2%, while Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) dropped 1.1% and 1.5%, respectively, and Standard Chartered (02888.HK) fell 2.2%. In the consumer sector, Pop Mart (09992.HK) and Mixue (02097.HK) fell 2.4% and 2.3%, while Tabo (06110.HK) dropped 4.5%, with Nike previously predicting a decline in sales in the mainland market. Anta (02020.HK) rose 3.2%. In the pharmaceutical sector, Hansoh Pharmaceutical (03692.HK), Innovent Biologics (09969.HK), and Kingsoft (01548.HK) rose 4.3% to 5.2%, while Luye Pharma (02186.HK) rose 7.7%. In other stocks, Longfor (00960.HK) and Vanke (02202.HK) fell 3.7% and 3.4%, while Sun Hung Kai Properties (00016.HK) and Yuehai Investment (00270.HK) fell 2.7% ### Related Stocks - [Hua Xia CSI New Energy Vehicles ETF (515030.CN)](https://longbridge.com/en/quote/515030.CN.md) - [GraniteShares 2x Long BABA Daily ETF (BABX.US)](https://longbridge.com/en/quote/BABX.US.md) - [Alibaba Group Holding Limited (BABA.US)](https://longbridge.com/en/quote/BABA.US.md) - [BYD Company Limited (BYDDY.US)](https://longbridge.com/en/quote/BYDDY.US.md) - [HFT CSI Auto Components Thematic ETF (562260.CN)](https://longbridge.com/en/quote/562260.CN.md) - [TENCENT (00700.HK)](https://longbridge.com/en/quote/00700.HK.md) - [Guotai CSI 800 Automobile and Parts ETF (516110.CN)](https://longbridge.com/en/quote/516110.CN.md) - [BYD Company Limited (BYDDF.US)](https://longbridge.com/en/quote/BYDDF.US.md) - [XIAOMI-W (01810.HK)](https://longbridge.com/en/quote/01810.HK.md) - [KraneShares 2x Long BABA Daily ETF (KBAB.US)](https://longbridge.com/en/quote/KBAB.US.md) - [ChinaAMC CSI Hong Kong Connect Automobile Industry Thematic ETF (159323.CN)](https://longbridge.com/en/quote/159323.CN.md) - [E Fund CSI Auto Components Thematic ETF (159565.CN)](https://longbridge.com/en/quote/159565.CN.md) - [BABA-W (09988.HK)](https://longbridge.com/en/quote/09988.HK.md) - [Hwabao WP CSI Intelligent Electric Vehicle ETF (516380.CN)](https://longbridge.com/en/quote/516380.CN.md) - [ChinaAMC CSI Auto Components Thematic ETF (562700.CN)](https://longbridge.com/en/quote/562700.CN.md) - [BYD COMPANY (01211.HK)](https://longbridge.com/en/quote/01211.HK.md) - [Xiaomi Corporation (XIACY.US)](https://longbridge.com/en/quote/XIACY.US.md) - [Ping An CSI Auto Components Thematic ETF (159306.CN)](https://longbridge.com/en/quote/159306.CN.md) - [BYD (002594.CN)](https://longbridge.com/en/quote/002594.CN.md) ## Related News & Research - [Guosheng Securities Sticks to Their Buy Rating for Xiaomi (XIACF)](https://longbridge.com/en/news/281478308.md) - [JLR and Chery present concept study for first Freelander model](https://longbridge.com/en/news/281332660.md) - [Guan Chao's Loss Balloons in 2025](https://longbridge.com/en/news/281314987.md) - [BYD Exports Surge 65% but Domestic Slump Enters Seventh Month](https://longbridge.com/en/news/281401346.md) - [BYD launches 2026 Seal 06 GT and wagon models equipped with ultra-fast charging tech](https://longbridge.com/en/news/281493817.md)