Hong Kong and other stock markets in the Asia-Pacific region traded lower on Wednesday following a rebound a day earlier, as US President Donald Trump’s hefty tariffs on China were set to take effect later in the day.
The Hang Seng Index slumped 1.7 per cent to 19,784.21 at 10.45am local time, the lowest level since mid-January. The Hang Seng Tech Index fell 1.2 per cent. On the mainland, the CSI 300 Index, which tracks the 300 largest stocks in Shanghai and Shenzhen, slipped 0.2 per cent.
Other major Asia-Pacific markets weakened: Japan’s Nikkei 225 Index fell 2.6 per cent, South Korea’s Kospi slid 0.5 per cent and Australia’s S&P/ASX 200 retreated 1.1 per cent.
All but three members of the Hang Seng Index fell, with exporters like PC maker Lenovo Group and clothing manufacturer Shenzhou International bearing the brunt.
Electric car maker Li Auto fell 4.2 per cent to HK$77.85, travel booking platform Trip.com sank 3.4 per cent to HK$418.60 and e-commerce giant JD.com slid 2.8 per cent to HK$133.70.
On the upside, chipmaker Semiconductor Manufacturing International Corporation increased 6.9 per cent to HK$41.85, smartphone and car maker Xiaomi added 3.7 per cent to HK$40.35 and telecommunications company China Unicom rose 2 per cent to HK$8.46.
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