Hong Kong stocks inched up slightly by noon on Tuesday, as the United States said it would investigate pharmaceutical and chip imports.
The benchmark Hang Seng Index stood at 21,457 as of midday – 40 points, or 0.19 percent, higher than Monday’s close – with a main board turnover of HK$108.8 billion.
The indicator once hit as high as 21,603 at the opening bell and dropped as low as 21,349 in the morning session.
But the Hang Seng Tech Index fell 0.9 percent, or 45 points, to 4,969 points, after opening at 5,057 points.
In mainland China, the Shanghai Composite Index slid 2 points, or 0.07 percent, to 3,260, while the Shenzhen Component Index dipped 42 points, or 0.43 percent, to 9,841 points by noon.
This came after the Trump administration said it is proceeding with probes into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors on grounds that extensive reliance on foreign production of medicine and chips is a national security threat, Federal Register filings on Monday showed.
Semiconductor Manufacturing International (0981) retreated 3.2 percent to HK$46.00.
Moreover, UBS lowered its forecast on China’s economic growth this year from 4 percent to 3.4 percent, farther from Beijing’s goal of about 5 percent.
Macau casino operator Galaxy Entertainment (0027) fell by 3.6 percent to HK$27.00, the worst-performing bluechip stock.
STAFF REPORTER AND REUTERS
