Hong Kong stocks slide as traders shun risks before July 9 deadline on US tariff deals
The Hang Seng Index declined 1 per cent to 23,822.03 at 9.35am local time on Friday, adding to a 0.6 per cent loss on Thursday. The Hang Seng Tech Index slipped 0.9 per cent. The Shanghai Composite Index and the CSI 300 Index of onshore stocks both slipped 0.1 per cent.
E-commerce leader Alibaba Group declined 2.1 per cent to HK$104 while peer JD.com retreated 1.1 per cent to HK$123.80. Nike supplier and apparel maker Shenzhou fell 0.7 per cent to HK$56.35, while Zijing Mining weakened 2.6 per cent to HK$20.70.
US President Donald Trump said on Thursday that his administration could start
sending letters to major trading partners to set high unilateral tariff rates ahead of a July 9 deadline. The warning added to market caution as Japan, South Korea and the EU scrambled to finalise agreements with the US.
Elsewhere, Anjoy Foods Group dropped 0.1 per cent to HK$59.95 on the company's trading debut.
Major Asian markets were mixed. Japan's Nikkei 225 added 0.3 per cent and Australia's S&P/ASX 200 rose 0.2 per cent, while South Korea's Kospi fell 0.8 per cent.
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