Hong Kong stocks drop on Trump tariff jitters

Hong Kong stocks fell on Wednesday as US President Donald Trump’s expected tariff announcement in Washington cast a shadow of uncertainty over global trade. The Hang Seng Index dropped 0.8 per cent to 23,020.

80 as of 9.40am local time. The Hang Seng Tech Index gained 0.



6 per cent. On the mainland, the CSI 300 Index declined 0.1 per cent and the Shanghai Composite Index was little changed.

Trip.com slumped 10 per cent to HK$484.40, and BYD, the world’s largest electric-vehicle maker, slid 7.

6 per cent to HK$378.40. Tencent Holdings lost 2.

5 per cent to HK$501.50. “Unlike in 2018, there is much less scope to divert trade and relocate supply chains,” Barclays said.

“Moreover, tariffs will increasingly take their toll on profits, wiping out the narrow margins in those industries that are particularly exposed to US tariffs.” Shenzhen Sofarsolar, supplier of solar PV and energy storage solutions, surged 218 per cent to 37.50 yuan in its debut in Shenzhen.

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