Global Trade War Roils Asian Markets

Hong Kong and Chinese stocks plunged amid growing concerns over a global trade war sparking a recession. Hong Kong's Hang Seng index dropped 8%, while China's CSI300 blue-chip index fell 4.5%. Major companies like Alibaba and Tencent saw significant losses amid escalating U.S.-China tariff tensions.

Hong Kong and Chinese stocks experienced a significant downturn on Monday as global markets faltered due to escalating trade tensions and fears of a recession. The Hang Seng index in Hong Kong plummeted by 8% during early trading.

The impact was also visible in China's technology sector, where major stocks like Alibaba and Tencent saw declines exceeding 8%.

Meanwhile, China's CSI300 blue-chip index dropped by 4.5%, following China's retaliatory tariffs on U.S. imports in response to heightened U.S. tariffs.

(With inputs from agencies.)