China, HK stocks open down as US set to unleash 104% tariffs

Reuters04-09

SHANGHAI, April 9 (Reuters) - China and Hong Kong shares fell at the open on Wednesday as the U.S.-China trade war escalated, following a U.S. decision to impose 104% tariffs on Chinese goods, starting later in the day.

China's blue-chip CSI300 Index .CSI300 opened down 1.2%, while the Shanghai Composite Index .SSEC lost 1.1%. Hong Kong benchmark Hang Seng .HSI was down 3.1%.

The United States said on Tuesday that 104% duties on imports from China would take effect from 0401 GMT on Wednesday, even as the Trump administration moved to quickly start talks with other trading partners targeted by President Donald Trump's sweeping tariff plan.

Chinese state holding companies continued to support the stock market by increasing share investment, while a slew of listed firms announced share buybacks.

(Reporting by Shanghai Newsroom; Editing by Tom Hogue)

((li.gu@tr.com))

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