Rebound Anticipated For Hong Kong Stock Market

(RTTNews) - The Hong Kong stock market headed south again on Friday, one session after ending the two-day slide in which it had fallen almost 700 points or 2.7 percent. The Hang Seng Index now sits just above the 26,410-point plateau although it may bounce higher again on Monday.

The global forecast for the Asian markets is positive after the U.S. Supreme Court struck down most of President Donald Trump's global tariffs. The European and U.S. markets were up and the Asian bourses are also expected to open to the upside.

The Hang Seng finished sharply lower on Friday following losses from the technology and insurance stocks and a mixed picture from the property sector.

For the day, the index slumped 292.59 points or 1.10 percent to finish at 26,413.35 after trading between 26,356.96 and 26,694.34.

Among the actives, Alibaba Group plummeted 4.91 percent, while Alibaba Health Info retreated 1.94 percent, ANTA Sports eased 0.12 percent, China Life Insurance fell 0.47 percent, China Mengniu Dairy declined 1.65 percent, China Resources Land added 0.71 percent, CITIC contracted 1.62 percent, CNOOC spiked 2.23 percent, CSPC Pharmaceutical soared 2.63 percent, Galaxy Entertainment dropped 1.44 percent, Haier Smart Home retreated 2.10 percent, Hang Lung Properties climbed 2.04 percent, Henderson Land surged 3.00 percent, Hong Kong & China Gas skidded 1.55 percent, Industrial and Commercial Bank of China collected 0.16 percent, JD.com declined 1.98 percent, Lenovo shed 0.86 percent, Li Auto stumbled 2.77 percent, Li Ning rallied 2.14 percent, Meituan slumped 1.58 percent, New World Development sank 1.19 percent, Nongfu Spring tumbled 2.45 percent, Techtronic Industries tanked 2.52 percent, Xiaomi Corporation plunged 3.55 percent and WuXi Biologics lost 0.49 percent.

The lead from Wall Street is upbeat as the major averages opened slightly lower but quickly bounced to the upside and largely spent the balance of the session in the green, ending near daily highs.

The Dow jumped 230.77 points or 0.47 percent to finish at 49,625.97, while the NASDAQ rallied 203.37 points or 0.90 percent to end at 22,886.07 and the S&P 500 added 47.62 points or 0.69 percent to close at 6,909.51.

For the holiday-shortened week, the NASDAQ shot up 1.5 percent, the S&P 500 jumped 1.1 percent and the Dow rose 0.3 percent.

The higher close on Wall Street came after the Supreme Court ruled in a 6-3 decision that the International Emergency Economic Powers Act, or IEEPA, does not authorize the president to impose tariffs., delivering a major blow to the president's signature economic policy.

Early in the session, stocks moved lower after the Commerce Department said U.S. economic growth slowed much more than anticipated in the fourth quarter of 2025. Also, the Commerce Department noted an unexpected uptick in the annual rate of consumer price growth, reinforcing expectations the Federal Reserve is likely to keep interest rates on hold in the near future.

Crude oil prices were relatively lackluster on Friday after spiking to their highest levels in six months amid concerns about a potential military conflict between the U.S. and Iran. West Texas Intermediate for April delivery was up $0.05 or 0.1 percent at $66.45 a barrel.