HK stocks reclaim some lost ground

Hong Kong stocks declined 65 points as of midday, after US President Donald Trump said he intends to impose tariffs of around 25 percent on automobile, pharmaceutical and semiconductor imports.

The benchmark Hang Seng Index dropped 0.28 percent to 22,911 points at noon – recovering from a low of 22,649 earlier – with a half-day main board turnover of HK$151.86 billion, a 13 percent decrease compared to yesterday’s midday close.

The Hang Seng China Enterprises Index fell 18 points, or 0.22 percent, to 8,456 while the Hang Seng Tech Index closed at 5,659 points, up 0.37 percent.

China Mengniu Dairy (2319) rose 10.61 percent to close at HK$17.30, making it the top gainer among blue-chip stocks.

Mainland markets rose slightly, with the Shanghai Composite Index closing at 3,342 points, up 17 points or 0.54 percent, while the Shenzhen Component Index finished at 10,705 points, rising by 88 points or 0.83 percent.

STAFF REPORTER