Hong Kong stocks dropped the most since a tariff-inflicted sell-off in April to close out the week whiplashed by renewed China-US tensions, as investors turned cautious ahead of the release of key China economic data and the staging of a high-stakes Communist Party gathering to outline the nation’s development goals in the next five years.
The Hang Seng Index tumbled 2.5 per cent to 25,247.10 at the close on Friday, the steepest decline since a 13 per cent plunge on April 7 sparked by US President Donald Trump’s “Liberation Day” global tariffs. The drop stretched the loss to 4 per cent for the week. The Hang Seng Tech Index slumped 4.1 per cent.
On the mainland, the CSI 300 Index slid 2.3 per cent and the Shanghai Composite Index retreated 2 per cent.
BYD Electronics International plummeted 8.1 per cent to HK$37.74 and Chinese chipmaker Semiconductor Manufacturing International Corp sank 6.5 per cent to HK$69.10. Alibaba Group…
