Hong Kong stocks fell to a six-week low after the US moved to impose a 34 per cent reciprocal tariff on China and a levy of at least 10 per cent on almost all of its trading partners, escalating a global trade war that could dent the global growth outlook and stoke inflation.
On Thursday, the Hang Seng Index dropped 1.5 per cent to 22,849.81 at the close, a level not seen since February 20, while the Hang Seng Tech Index slumped 2.1 per cent. On the mainland, the CSI 300 Index slipped 0.6 per cent and the Shanghai Composite Index retreated 0.2 per cent.
For the week, the Hang Seng Index was down 2.5 per cent to cap a fourth straight losing week. Financial markets in the city and on the mainland will be closed on Friday for a public holiday.
Companies with the biggest overseas sales led decliners. Techtronic Industries, the Hong Kong-based machine tool maker that generated 76 per cent of its sales from North America last year, plunged…
