Hong Kong's stock market experienced significant volatility over the past week. The Hang Seng Index initially rallied to close at 23,787.93 points, up 3.27% on Wednesday, driven by strong performances in technology and electric vehicle sectors. Notable gains were seen in companies like NIO, up over 12%, XPeng Motors, nearly 10%, and Li Auto, up 6%. Other significant performers included Haidilao, up 7%, and stocks like CICC & CGS, up 17%, LONGFOR GROUP, up 10.5%, MEITUAN, up 9%, JD.COM & CHINA OVERSEAS, up 8%. However, CSPC PHARMA fell 4% and CNOOC & CHINA MOBILE dropped 1%. The market saw a sharp reversal by Friday, with the Hang Seng Index dropping 3.28% to close at 22,977.11 points. The Hang Seng Tech Index fell even more dramatically, declining 5.32%. Key losers included BYD Electronic, down nearly 10%, XPeng, Li Auto, Xinyi Solar, and LONGFOR GROUP, all falling more than 8%. The Hang Seng China Index extended its loss to 4%. In mainland China, the Shanghai Composite Index declined, closing down 1.98% at 3,320.9 points, while the Shenzhen Component Index fell 2.89% to 10,611.24 points. The CSI 300 Index dropped 1.97% to 3,890.05 points, and the ChiNext Index fell 2.75%. The CSI2000 Index saw a decline of 4.26%. The FTSE China A50 Index Futures also fell more than 1% on the day. Despite the downturn, turnover on the Shanghai and Shenzhen stock exchanges exceeded 1.5 trillion yuan for the 17th consecutive trading day, and southbound net buying via Stock Connect reached 10 billion yuan. The downturn in Hong Kong and China was mirrored in South Korea, where the Kospi Index fell 3.39% to 2,532.78 points, its lowest since February 12. The decline was attributed to fears of a tariff war initiated by US President Donald Trump and a slump in Nvidia shares, impacting global markets. The Hang Seng Index had also seen a 3.6% jump earlier in the week, and the Hang Seng Tech Index rose 4.47%. In the US premarket, Direxion Daily FTSE China Bull 3X Shares rose over 10.5%. The Hong Kong stock exchange reported a 10% profit jump in 2024, attributed to a surge in trading turnover and IPOs, bolstered by China's economic stimulus measures.