Hong Kong stocks fluctuate as global banks stay bullish amid trade tensions
Stocks in Hong Kong swing between gains and losses as Citigroup, Goldman keep bullish view on local markets
The Hang Seng Index fell 0.1 per cent at 23,752.53 as of 10.50am local time on Wednesday, after rising earlier by as much as 0.8 per cent. The Hang Seng Tech Index also fluctuated, before adding 0.1 per cent. The CSI 300 Index of onshore stocks declined 0.3 per cent, while the Shanghai Composite Index dropped 0.1 per cent.
Developer Wharf Reic slumped 3 per cent to HK$19.84, while e-commerce platform operator JD.com lost 0.9 per cent to HK$158.60 and PC maker Lenovo Group retreated 3.7 per cent to HK$12.06.
Gains in Chinese car makers tempered losses, as BYD advanced 3.8 per cent to HK$363.60 and Geely Auto climbed 3 per cent to HK$17.76. Alibaba Group Holding jumped 2.2 per cent to HK$136.50.
02:03
Trump says tariffs on Chinese imports will double to 20% and take effect on March 4
Hong Kong stocks erased some of its unprecedented gains this year, having lost almost 2 per cent in a three-day slide through Tuesday. President Donald Trump’s policies, including imposing higher trade tariffs on Canada, China and Mexico, have heightened trade wars and clouded growth outlook, forcing investors to seek hedges.
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