Market Updates
China and Asia Stocks Dropped Amid Worries of Escalating Tensions in the Middle East
Li Chen
02 Apr, 2026
Hong Kong
Stocks in China and Hong Kong headed lower and trimmed weekly gains amid lingering uncertainty over the conflict in the Middle East.
The Hang Seng Index dropped 1.5%, and the mainland-focused CSI 300 Index decreased 1% as crude oil prices rebounded following mixed messages from the U.S. president.
In a televised address to the nation, Donald Trump claimed that core objectives of the latest military campaign targeting Iran, but he also threatened to escalate attacks over the next two to three weeks.
Brent crude oil prices soared 6.4% to $107.73 a barrel following Trump's belligerent message, raising fears of a prolonged disruption of shipments of energy products.
The People's Bank of China drained liquidity, reversing months of support provided to sustain the economic growth.
The central bank drained 890 billion yuan through short-term operations in March and absorbed another 250 billion yuan through longer-term tools, which indicates a significant tightening of monetary policy aimed at controlling inflation and stabilizing the economy.
China Indexes and Stocks
The Hang Seng Index decreased 1.5% to 24,924.67, and the mainland-focused CSI 300 Index declined 1% to 4,477.33.
Alibaba Holdings, Tencent Holdings, and Baidu Inc. decreased between 1% and 3%.
Zhongji Innolight, Eoptolink Technology, and NAURA Technology dropped between 2% and 3%.
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