Hong Kong stock chip stocks plummeted, Alibaba and Xiaomi fell over 3%, oil and gas stocks surged against the trend, Shandong Molong rose over 16%.

Reporter | Jiang Peixia

Editor | Li Yutong

Today, Asia-Pacific stock markets generally declined, with Hong Kong stocks closing lower on April 2. The Hang Seng Index closed at 25,116.53 points, down 177.5 points, a 0.7% decrease; the Hang Seng Tech Index closed at 4,679.1 points, down 77.35 points, a 1.63% decrease.

Among the Hang Seng Index components, Geely Auto, Hansoh Pharmaceutical, and Sunny Optical Technology led the gains, while Longfor Group, Xiaomi Group-W, and Semiconductor Manufacturing International Corporation (SMIC) saw the largest declines. In the Hang Seng Tech Index components, Sunny Optical Technology, Leapmotor, and Lenovo Group posted the biggest gains, while heavyweight tech stocks declined, with Xiaomi Group falling over 3% and Alibaba dropping over 3%.

AI application stocks led the decline, with Zhipu dropping nearly 15%, and MINIMAX-W falling over 10%. Chip stocks plummeted, with Fudan University Shanghai rising over 7%, Huahong Semiconductor dropping over 5%, and SMIC falling over 3%.

The automotive sector strengthened, with Chery Auto rising over 15%, Geely Auto up over 8%, and Great Wall Motors up over 7%. According to Caixin, several new energy vehicle companies saw a significant rebound in March delivery data. Leapmotor delivered 50,029 vehicles in March, a year-on-year increase of 34.87% and a month-on-month increase of 78.25%, continuing its leading position among new entrants; Li Auto delivered 41,053 new vehicles in March, up 11.94% and 55.38% respectively compared to the previous month and year; NIO also exceeded quarterly guidance, delivering 35,486 vehicles in March, a year-on-year increase of 135.96% and a month-on-month increase of 70.63%.

The oil and petrochemical sector saw a strong surge, with Changying Group (Holdings) rising over 18%, Shandong Moluang up over 16%, and Yuanheng Gas and Baijin Oil Service following suit.

According to CCTV News, on April 2, U.S. President Trump stated that the U.S. previously did not need the Strait of Hormuz, and now it still does not. Additionally, Trump said that if an agreement cannot be reached, the U.S. will launch a fierce attack on all Iranian power plants. Trump also mentioned that the U.S. is conducting strict surveillance and control over these facilities via satellites. If any abnormal activity is detected, the U.S. will immediately launch missiles to deliver a “destructive” strike.

What do you think about the future trend of Asia-Pacific stock markets?