The Hang Seng Index declined 0.4 per cent to 25,018.01 at 9.50am local time, adding to the 0.2 per cent loss on Tuesday. The Hang Seng Tech Index dropped 0.8 per cent. On the mainland, the CSI 300 Index eased 0.2 per cent and the Shanghai Composite Index lost 0.1 per cent.
Short-video sharing platform Kuaishou Technology slumped 5.1 per cent to HK$70.70, while drug maker Hansoh Pharmaceutical Group slid 6.5 per cent to HK$36.30. Home-appliance maker Midea Group dropped 2.1 per cent to HK$80.85 and digital health services provider JD Health International retreated 3.3 per cent to HK$64.35.
Limiting the losses, Sunny Optical Technology jumped 6 per cent to HK$79.45 and Wuxi Biologics added 3.8 per cent to HK$30.92. Hong Kong developer Sun Hung Kai Properties advanced 0.9 per cent to HK$91.40, while smartphone and carmaker Xiaomi added 0.7 per cent to HK$52.80.
Overnight, the S&P 500 closed 0.6 per cent lower while the Nasdaq 100 fell 1.4 per cent. The rout was led by Nvidia, which slid 3.5 per cent and wiped billions off its market capitalisation.
Bessent highlighted the importance of the revenue from the tariffs on Chinese goods, which implied that the levies could remain at the current level for a while, triggering traders’ fears about no imminent relief.
