Tariff tensions douse HK market sentiment in morning trade

Hong Kong stocks once retreated nearly 2 percent after a high open amid a market sentiment ostensibly dampened by the Sino-US tariff war.

The benchmark Hang Seng Index recorded 20,479 points after opening 37 points higher at 20,827, while the Hang Seng Tech Index went down by 2.12 percent to 4,876 points.

Alibaba (9988) opened 1.4 percent higher at HK$99 and once declined to HK$95.35.

Semiconductor Manufacturing International Corporation (0981) ended yesterday's gain and opened 0.4 percent lower. It once slumped to as low as HK$43.40 apiece.

In China, the Shanghai Stock Exchange Index opened 0.6 percent higher and the Shenzhen Component Index opened 0.8 percent higher on the first trading day in the Year of the Snake.

This came after the Chinese artificial intelligence startup Deepseek shook Silicon Valley and global markets during the Lunar New Year holiday.

However, the A-share market also saw declines after the high opening.

CICI CAO