Market Updates
Persistent Uncertainty Over Hormuz Shipments Dragged Down China Markets
Li Chen
23 Apr, 2026
Hong Kong
Stocks in China and Asia lost momentum amid persistent uncertainty in the Persian Gulf.
The Hang Seng Index decreased 1.1%, and the mainland-focused CSI 300 Index declined 0.8% as investors grappled with a lack of fresh capital.
Benchmark indexes in Japan, India, and South Korea traded down as investors estimated crude oil prices are likely to be elevated in the near future as the conflict in the Middle East drags on.
The manufacturing-driven economies in Asia are paying a steep price as the supply of crude oil, natural gas, and fertilizers remains disrupted for the second month in a row.
Moreover, the sharp jump in jet fuel prices is impacting the cost of air travel for passengers and goods.
Closer to home, investors looked ahead to the four-day session of the National People's Congress Standing Committee ending on April 30, where lawmakers are scheduled to review Prison Law and other legislative changes.
China Indexes and Stocks
The Hang Seng Index decreased 1.1% to 25,870.37, and the mainland-focused CSI 300 Index fell 0.8% to 4,761.57.
Alibaba Group, Tencent Holdings, and Baidu Inc. declined between 1% and 3%.
SMIC, Hua Hong Semiconductor, and Shanghai Fudan Microelectronics declined between 2% and 7%.
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