Hong Kong stocks experienced their most significant drop since April on Monday, October 13, 2025, as renewed trade tensions between the United States and China created anxiety among investors and reduced risk appetite. Alibaba Group Holding's stock was significantly affected, plunging 5.5% to HK$156.30. The broader Hang Seng Index saw a 3.5% slump by the midday break. The market downturn was a reaction to the US president's threat on the preceding Friday to impose a 100% tariff on all Chinese imports and to restrict exports of critical software.