Hong Kong stocks fell 319 points, or 1.6%, to 19,787 in early Wednesday trading, reversing the gains made in the previous six sessions.
Equities in Hong Kong retreat from four-week peak
The decline followed US President Trump's indication that he might impose a 10% tariff on all Chinese imports, after previously excluding China from the list of countries he planned to target. The Hang Seng Index retreated from its highest level in nearly four weeks, weighed down by broad market weakness. However, overnight gains on Wall Street helped limit further losses, as Trump is expected to announce a new AI investment initiative involving major companies such as Softbank Group Corp., OpenAI, and Oracle. Domestically, Hong Kong’s annual inflation rate held steady at 1.4% in December, its lowest since May.
Worst performers
Early decliners included KE Holdings (-3.2%), JD Logistics (-2.6%), and Longfor Group (-1.7%). Geely Auto dropped 1.8%, despite plans to collaborate with Handal Motor to build a second-phase factory in Indonesia, set to begin operations by Q3.
