Overview

• The Hang Seng Index dropped 3,021 points to 19,828, marking its largest single-day loss since 1997.
• All 14 major equity indexes in the Asia-Pacific region declined, with 11 hitting their lowest levels in at least 52 weeks.
• Japan’s Nikkei 225 fell by 7.8%, South Korea’s Kospi Index by 5.6%, Australia’s S&P/ASX 200 by 4.2%, and Singapore’s Straits Times Index by 8%.
• Hong Kong Financial Secretary Paul Chan Mo-po confirmed no irregularities in trading and emphasized the importance of risk management for investors.
• The downturn is attributed to fears over the global economic impact of US trade policies, including the trade war initiated by Donald Trump.