Hong Kong Shares Fall as Trump Rekindles Tariff Fears
Hong Kong stocks fell 84 points or 0.4% to 24,281 in early trade Thursday, retreating from a near three-month high and snapping gains from the previous session.
Sentiment soured after a sharp decline in U.S. futures, triggered by President Trump’s announcement that he will set unilateral tariff rates within two weeks, reigniting trade tensions.
Most sectors were lower as some investors locked in profits amid renewed concerns over rising tensions in the Middle East. Losses were partially limited by a recent U.S.-China trade agreement, which removes Chinese restrictions on rare-earth exports and grants Chinese students access to U.S. universities. Horizon Robotics slumped nearly 4% after revealing a sale of 681 million new shares to a key shareholder.
JD.com edged lower despite reports of its expansion into Saudi Arabia. Other notable laggards included Kuaishou Tech (-4.2%), China Resources Land (-3.0%), Zhejiang Leapmotor Tech (-2.0%), and Techtronic Industries (-1.7%).
Source: Trading Economics