Asian markets suffered a massive rout on Monday as the escalating U.S.-China trade war sparked a widespread sell-off. Hong Kong’s Hang Seng Index crashed 9.88%, closing at 20,592.24 HKD, while China’s SSE Composite Index tumbled 5.71% to 3,151.19 CNY, marking one of the worst trading sessions in recent years.
The sharp fall came after China announced a 34% blanket tariff on all U.S. imports, effective April 10, in response to former U.S. President Donald Trump’s renewed tariff offensive targeting Chinese products.
Tech-heavy and export-linked stocks were hit hardest:
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The Hang Seng TECH Index plunged 12.80%
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The Hang Seng China Enterprises Index dropped 9.93%
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The Hang Seng China 50 Index slid 7.98%
Mainland China also saw broad-based declines:
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The Shenzhen Component Index fell 7.60%
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The SZSE Composite Index declined 7.83%
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The CSI 1000 Index, tracking small caps, nosedived 8.18%
Trump’s weekend remarks, reiterating the need to “fix massive financial deficits with China” through tariffs, were swiftly countered by Beijing’s aggressive tariff hike—raising the stakes in what is now a full-scale trade war.
Analysts warn that further downside risks loom unless diplomatic dialogue resumes soon. Investors are bracing for continued volatility across global markets, particularly in sectors dependent on U.S.-China trade flows.
Disclaimer: The above views are based on official announcements and market data. Please make any and every investment decision after consulting your financial advisor.
