IBM(US:IBM) Guoxin Securities Hongkong·2026-02-24 12:43Market Overview - The Hang Seng Index closed at 27,082, down 2.53% for the day and 5.66% year-to-date[3] - The Hang Seng Technology Index fell by 3.34% in a single day, reflecting ongoing concerns in the tech sector[3] - The S&P 500 and Nasdaq indices dropped by 1.04% and 1.13% respectively, indicating a broader market decline in the U.S.[3] Sector Performance - The optical communication sector saw significant gains, with Longi Green Energy rising over 14% following advancements in fiber-optic technology[9] - Gold and precious metals surged, with spot gold prices exceeding $5,100 per ounce, leading to gains of over 12% for Tongguan Gold[9] - The lithium battery sector was active, with Ganfeng Lithium increasing by over 8% due to positive market forecasts from UBS[9] Corporate News - IBM experienced its largest single-day drop since 2000, falling over 13% after news of AI advancements that could modernize COBOL programming[14] - Notable declines were seen in major tech stocks, with DoorDash and Blackstone both dropping over 6%[10] - PayPal shares rose by 5.76% amid speculation of potential acquisition interest from a large competitor[15] Economic Indicators - The U.S. Customs and Border Protection announced a halt to tariffs imposed under the International Emergency Economic Powers Act, adding uncertainty to trade policies[15] - The Federal Reserve's decision on interest rates in March will depend on labor market conditions, with potential implications for market stability[15]