Hong Kong Stocks See Decline as Trade-War Fears Mount
Continued Decline of Hong Kong Stocks
Hong Kong stocks fell for the fifth straight day on Thursday, marking the longest losing streak in two months, as investors worried about the global economy amid escalating trade-war risks. The Hang Seng Index declined 0.1 percent to 23,572.63 as of 10:45 AM local time, adding to a loss of 3.2 percent since March 6. The Tech Index retreated 1 percent. On the mainland, the Shanghai Composite Index lost 0.2 percent.
- Sportswear brand Anta Sports slumped 2.3 percent to HK$95.85.
- Peer Li Ning retreated 1.5 percent to HK$17.48.
- E-commerce giant Alibaba Group Holding tumbled 2.6 percent to HK$131.30.
- Short-video platform Kuaishou Technology plunged 2.7 percent to HK$64.05.
Despite the losses, gains in Chinese car makers tempered the declines, with Li Auto jumping 0.7 percent to HK$113.10, peer BYD adding 1.4 percent to HK$359.80, and Xiaomi increasing 0.4 percent to HK$52.25. PC producer Lenovo Group advanced 0.3 percent to HK$11.68.
US President Donald Trump announced that the US would respond to the European Union’s countermeasures against his new 25 percent tariffs on steel and aluminum, escalating fears of recession risk globally. The economic policy was described as “driving uncertainty,
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.