Hang Seng Trims Losses at Finish
The Hang Seng fell 65 points or 0.3% to end at 22,942 on Tuesday after closing modestly higher in the prior session.
Concerns over trade tensions between China and the US weighed on the market, with Beijing swiftly responding to new US tariffs by imposing 10%-15% hikes on import levies for various American agricultural and food products, and placing 25 US firms under export and investment restrictions.
Markets trimmed their early losses amid growing expectations that China's annual parliamentary session, known as the Two Sessions, being held this week, would reveal the government's 2025 economic priorities. The country's growth target is expected to remain around 5% this year, with a budget deficit goal of 4%.
EV maker BYD tumbled near 7% after the company raised $5.59 billion in a primary share sale at a discount to its Monday closing price. Other laggards of the day included GDS Holdings (-9.9%), Geely Auto (-6.4%), Hang Seng Bank (-3.7%), Li Auto (-3.3%), and China Unicom (-3.2%).
Source : Trading Economics
