The Hang Seng dropped 236 points, or 1.2%, closing at 19,367 on Thursday, marking its first decline in three sessions amid rising trade tensions between China and the US.
Hang Seng dips by 1.2% at close
Reports suggest the Biden administration may impose new restrictions on the sale of semiconductor equipment and AI memory chips to China next week. At the same time, the potential impacts of US President-elect Trump's trade policies remain unclear, with China's state media warning of severe consequences.
Business news
In business news, media outlets reported that BYD Co. and other Chinese automakers have urged suppliers to lower prices, signaling increased price competition. However, hopes for substantial support measures from Beijing to help mitigate global challenges and boost economic growth limited further declines. Losses were widespread, with consumer, tech, and property stocks among the hardest hit. Notable decliners included Giant Biogene Hlds. (-6.5%), Akeso Inc. (-5.4%), H World Group (-4.2%), and China Resources Beer (-4.1%).
