Hong Kong stocks declined for a fourth day as worries about global trade wars pushed some markets closer to a technical correction, even as banks including Citigroup and Goldman Sachs retained their bullish views on Chinese equities on valuation appeal.
The Hang Seng Index fell 0.8 per cent at 23,600.31 on Wednesday, bringing the losses since March 6 to 3.2 per cent. The Hang Seng Tech Index tumbled 2 per cent. The Shanghai Composite Index dropped 0.2 per cent.
PC maker Lenovo Group sank 7 per cent to HK$11.64 while developer Wharf Reic slumped 4 per cent to HK$19.64 and e-commerce platform operator JD.com lost 2.1 per cent to HK$156.70.
Gains in Chinese car makers tempered losses, as BYD advanced 1.4 per cent to HK$356 and Geely Auto climbed 1.6 per cent to HK$17.52. Alibaba Group Holding added 0.9 per cent to HK$134.80 as the firm made further inroads into the artificial intelligence field.
