Hong Kong stocks lead Asian market slide - RTHK
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Hong Kong stocks lead Asian market slide

2019-05-14 HKT 09:48
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  • The HSI took a hit as investors returned after a long break. File photo: RTHK
    The HSI took a hit as investors returned after a long break. File photo: RTHK
Hong Kong stocks ended the morning session with more big losses after China fanned trade tensions by hiking tariffs on US imports, days after Washington more than doubled duties on US$200 billion worth of Chinese goods.

The Hang Seng Index dropped 1.6 percent, to 28,097.

On the mainland, the Shanghai Composite Index was down 0.4 percent, to 2,893 while the Shenzhen market;s composite index lost 0.5 percent, to 1,544.

Most other Asian markets extended the global sell-off Tuesday following hefty losses on Wall Street overnight.

Shanghai shed 0.3 percent and Tokyo was off 0.7 percent at the break.

Sydney and Singapore each dropped more than 1 percent, with Manila and Jakarta both down 1.6 percent.

There were also losses in Taipei and Wellington, though Seoul edged up slightly.

"Uncertainty and short-term sentiment impact is likely to stay," Medha Samant, director of investment at Fidelity International, told Bloomberg TV. "In the short term, it looks like volatility is here to stay and we could see this risk-off, risk-on going on for a long time." (AFP)

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Last updated: 2019-05-14 HKT 12:16