Hang Seng Dips 1.6% at Close
The Hang Seng slipped 357 points or 1.6% to end at 22,577 on Thursday, extending the prior session's weakness amid broad sector declines.
The index fell further from a four-month top, notched earlier in the week, as uncertainty mounted over US President Trump's tariff plans, with talks of a potential 25% levy on lumber. The tech sector plunged by 3%, pressured by continued profit-taking. Alibaba Group Hlds. slid 2.6% ahead of its earnings reports, while Meituan tumbled 6.6% after announcing plans to expand social security protection for more workers.
Still, the benchmark index pared some early losses after Trump indicated the possibility of reaching a new trade deal with China. His remarks followed the imposition of sweeping 10% tariffs on all Chinese imports, which prompted Beijing to retaliate with its tariffs and file a WTO dispute against Washington. Notable decliners included Kuaishou Tech. (-7.7%), Lenovo Group (-7.2%)., Pop Mart Intl. (-6.1%), and Horizon Robotics (-6.2%).
Source: trading Economics
