Hong Kong stocks saw gains narrow to 0.15 percent by noon on Wednesday, as the market faces more uncertainties from US President Donald Trump’s tariff policies.
The benchmark Hang Seng Index stood at 24,777 points as of midday, only 36 points or 0.15 percent higher than the previous close, with a main board turnover of HK$147.59 billion
The indicator once hit as high as 24,809 in the morning session.
The Hang Seng Tech Index fell 0.82 percent, or 50 points, to 6,055 points and the Hang Seng China Enterprises Index edged down by 0.09 percent, or 8 points, to 9,169 points.
In mainland China, the Shanghai Composite Index dipped 2 points to 3,427, while the Shenzhen Component Index lost 17 points, or 0.16 percent, to end the morning session at 10,997 points.
This comes following the White House announcing that Trump still intends for new reciprocal tariff rates to take effect on April 2.
"The intent is to enact tariffs on April 2," the White House said when asked to clarify Treasury Secretary Scott Bessent’s comments that countries would get an opportunity to avoid higher tariffs by reducing their own trade barriers.
"Unless the tariff and non-tariff barriers are equalized, or the US has higher tariffs, the tariffs will go into effect," the White House said.
Xiaomi (1810) advanced 1 percent to HK$58.35 on its record-high full-year revenue.
Several banks and brokerages raised their targets for the smartphone and electric vehicle maker, with Goldman Sachs expecting the company to hit HK$63 apiece and BofA Securities projecting a level of HK$65.
XPeng (9868) dropped 6 percent to HK$89.35, though its 2024 net loss narrowed by about 44 percent.
STAFF REPORTER
The Hang Seng Index stood at 24,777 points as of midday -- 36 points, or 0.15 percent, higher than the previous close. Reuters
