Investors experienced a significant market downturn today, often referred to as "Black Monday," as the Hong Kong stock market plummeted amid escalating trade tensions between the US and China. The Hang Seng Index closed down 3,021 points or 13.22%, settling at 19,828.

Trading volume for the day reached a staggering HKD620.8 billion. Across all sectors, Chinese companies listed in Hong Kong experienced substantial declines; tech stocks, bank shares, insurance firms, semiconductor manufacturers, and restaurant chains fell between 10% and 20%. Notable drops included Alibaba (down 17.97%, closing at HKD101.3 per share), Tencent (down 12.53%, ending at HKD435 per share), and BYD (falling 15.9% to close at HKD315).

The Hang Seng Tech Index, which tracks technology stocks, plunged 17.61%, closing at HKD4,401. Market analysts generally attribute this uncertainty to the lack of communication between the US and China regarding their trade war, suggesting a possibility of further declines in Hong Kong's stock market.

(Author: Zhang Qian; Image source: HKEX)