Hong Kong stocks fell after US trade deals with Vietnam and other trading partners showed Washington was putting hurdles in place to curb Chinese goods shipped from offshore factories, potentially heightening trade tensions.
The Hang Seng Index dropped 0.6 per cent to 24,069.94 on Thursday, erasing most of the gain on Wednesday. The Hang Seng Tech Index slipped 0.7 per cent. On the mainland, the Shanghai Composite Index advanced 0.2 per cent and the CSI 300 Index rose 0.6 per cent.
Smartphone and car maker Xiaomi slumped 3.4 per cent to HK$58.10 while WeChat operator Tencent lost 0.1 per cent to HK$501. E-commerce leader Alibaba Group slid 2.9 per cent to HK$106.20 after it announced a big subsidy programme to boost user and merchant incentives, escalating competition with JD.com and Meituan. JD.com dropped 2.1 per cent to HK$125.30, while Meituan slipped 2.5 per cent to HK$122.80.
