HK stocks see biggest drop in six months on US-China trade tensions

Hong Kong stocks tumbled in Monday’s morning session, marking their largest drop in nearly six months, after fresh escalations in the US-China trade war spooked investors.

The benchmark Hang Seng Index fell 916 points, or 3.49 percent, to 25,373. The China Enterprises Index dropped 326 points, or 3.48 percent, to 9,032. The Hang Seng Tech Index declined 4.54 percent to 5,975.

Market turnover in the first half of the day reached HK$281.8 billion, up 56 percent from Friday’s midday level.

In mainland China, the Shanghai Composite Index closed at 3,846, down 50 points or 1.3 percent, while the Shenzhen Component Index fell 342 points, or 2.56 percent, to 13,013.

STAFF REPORTER