Hong Kong stocks slipped, taking cues from sell-offs in the US and Asia, after US President Donald Trump’s tariff threats stoked fears of a global trade war and investors rebuked BYD for its stock placement plan.
The Hang Seng Index fell 0.3 per cent to 22,941.77 on Tuesday, after sinking earlier by as much as 2 per cent. The Hang Seng Tech Index was little changed. On the mainland, the CSI 300 Index fell 0.1 per cent and the Shanghai Composite Index gained 0.2 per cent.
Electric-vehicle maker BYD plunged 6.8 per cent to HK$339 on a plan to raise HK$43.5 billion (US$5.6 billion) in its biggest-ever share placement. Peer Geely Automobile slid 5.7 per cent to HK$16.88. Alibaba Group Holding retreated 2 per cent to HK$127.80, Meituan dropped 0.9 per cent to HK$161.20 and Xiaomi lost 0.8 per cent to HK$50.55.
Trump’s tariffs reverberated across global markets, with the S&P 500 slumping 1.8 per cent overnight for the worst sell-off this…
