Bitcoin
Hang Seng Index Drops 1.4% and Bitcoin Declines Amid Macro Pressures
Global equity and cryptocurrency markets retreated on October 9 as regional tensions, rising oil prices, and macroeconomic uncertainties weighed on sentiment.
Hong Kong equities declined sharply on October 9, with the benchmark Hang Seng Index dropping 344 points, or 1.43%, to close at 23,785. The Hang Seng Tech Index fell 2.89% to 4,073, marking its lowest reading since September 2024, led lower by a 4.8% decline in HSBC Holdings shares alongside weak holiday consumption data from mainland China.
The sell-off was accompanied by broad risk aversion driven by rising oil prices, Middle East tensions, and high interest rate concerns. US indices also registered losses, with the Nasdaq Composite falling 1.25% and the S&P 500 slipping 0.47%. In alternative asset markets, Bitcoin declined by as much as 3.8%, while gold gained up to 0.85%.
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