Asian markets diverge as Alibaba’s US shares tumble and Hong Kong lags
Asian markets showed mixed results overnight, with some regions gaining while others struggled. Hong Kong’s trading volumes remained low, falling below the one-year average due to weak buyer activity. Meanwhile, Alibaba faced pressure after a report linked US technology support to China’s military, affecting its US-listed shares.
Hong Kong’s market underperformed as trading volumes stayed light. The lack of buyer interest kept activity subdued, dragging overall performance. In contrast, the Philippines and South Korea saw stronger sessions, outperforming regional peers.
Mainland investors’ renewed interest in Alibaba contrasts with its US stock struggles. The PBOC’s upcoming rate decision and ongoing trade talks between the US and China will likely shape market sentiment in the coming days. Hong Kong’s weak volumes and regional disparities highlight uneven recovery across Asian markets.
