Hong Kong Shares Lower After Trump Announces Additional Tariffs -- Market Talk

Dow Jones10:07

0207 GMT - Hong Kong shares decline, with the Hang Seng Index down 1.7% at 19866.0 and the Hang Seng Tech Index falling 2.5%. Market sentiment is weighed down by U.S. President Donald Trump's decision to impose tariffs on Mexico, Canada and China. The 10% tariff increase on Chinese goods, if maintained, would reduce China's real GDP growth by 50 basis points this year, adding modest downward pressure on China's CPI inflation, Goldman Sachs analysts say in a commentary. Among major stocks, technology stocks lead the declines, with Baidu 6.8% lower and Meituan dropping 5.1%. The few gainers include SMIC, adding 4.0% and Lenovo, rising 1.5%. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

February 02, 2025 21:07 ET (02:07 GMT)

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