Hong Kong stocks drop for fifth day as fears of trade-war fallout mount

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Hong Kong stocks fell for the fifth straight day on Thursday, marking the longest losing streak in two months, as investors worried about the global economy amid escalating trade-war risks.

The Hang Seng Index declined 0.6 per cent to 23,462.65 at the close, adding to a loss of 3.2 per cent since March 6. The Tech Index retreated 1.7 per cent. On the mainland, both the CSI 300 Index and the Shanghai Composite Index lost 0.4 per cent.

Sportswear brand Anta Sports slumped 3.4 per cent to HK$94.85, and peer Li Ning retreated 2.8 per cent to HK$17.24. Alibaba Group Holding tumbled 2.5 per cent to HK$131.50, and short-video platform Kuaishou Technology plunged 3.9 per cent to HK$63.30.

Trimming losses, smartphone and electric car maker Xiaomi added 1.5 per cent to HK$52.85, while BYD advanced 1.6 per cent to HK$360.80. Zijin Mining Group added 1.2 per cent to HK$16.28.

Developer Wharf Holdings slumped 4.7 per cent to HK$19.40 after losing as…

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