Market Updates
China's indexes Closed Down In Lackluster Trading, Knowledge Atlas In Focus
Li Chen
23 Jun, 2026
Hong Kong
Stocks in China mirrored the U.S. market decline in overnight trading in New York, and tech stocks led the decliners in Hong Kong and mainland China.
The Hang Seng Index decreased 1.1%, and the mainland-focused CSI 300 Index dropped 1.5%.
In New York, the S&P 500 Index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 1.3% driven by sharp losses in high-flying AI-linked stocks.
Tech stocks came under pressure, and SpaceX plunged 16% after the company announced a $20 billion bond offering, and Alphabet Inc. dropped 5% after another leading AI researcher announced they would leave for a rival.
In domestic trading, market sentiment remained cautious as investors reviewed the progress of U.S.-Iran peace talks, which could pave the way for the resumption of commercial shipments through the Strait of Hormuz.
China Indexes and Stocks
The Hang Seng Index decreased 1.1% to 23,499.88, and the mainland-focused CSI 300 Index fell 1.5% to 4,982.18.
Hygon Information Technology, Eoptolink, Victory Giant, and SMIC dropped between 0.6% and 2%.
Knowledge Atlas Technology skyrocketed as much as 42% in Monday's trading but gave up 11% on Tuesday and eased to HK $2,136.0.
The operator of Zhipu AI shot up on Monday after the company announced the release of a new GLM-5.2 model.
Moreover, the company removed discounts, lifting the revenue outlook substantially.
The company listed its stock on the Hong Kong Stock Exchange at HK$115 a share and raised approximately HK$4.4 billion on December 30, 2025.
Annual Returns
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Earnings
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