Hang Seng falls amid tariff concerns; insurers gain

The Hang Seng dropped 78 points, or 0.4%, to close at 19,700 on Thursday, reversing early gains amid rising tariff risks and concerns about China's slow economic recovery.

Hang Seng falls amid tariff concerns; insurers gain

Meanwhile, US futures dipped following a strong performance by Wall Street's S&P 500 on Wednesday, as President Trump's push to increase AI spending boosted market sentiment. Most sectors eventually declined, with notable losses in tech, consumer, and property stocks. In contrast, financial stocks gained, supported by China’s securities regulator, encouraged local insurers and mutual funds to increase their equity holdings. Earlier this month, the regulator revealed plans to work with the central bank to improve monetary policy tools and stabilize the struggling mainland stock markets.

Semicon, Pop Mart, Li Auto lead losses; insurers post gains

Among the biggest losers were Semicon Manufacturing (-7.4%), Pop Mart Intl. (-5.4%), Li Auto (-3.7%), and Xiaomi Corp. (-2.7%). On the upside, insurers saw gains, including PICC Property & Casualty (+2.5%), China Life (+2.2%), and Ping An Insurance (+1.8%).