Hong Kong stocks muted as investors await more US-China trade deal details

Hong Kong stocks stalled in the morning as investors await more details about the US-China trade agreements.

The benchmark Hang Seng Index stood at 24,244 by noon, 121 points or 0.5 percent lower than the previous close. The indicator recovered slightly from the day's low of 24,153 points.

The half-day main board turnover decreased 5 percent to HK$125.6 billion. 

The Hang Seng Tech Index represented a 1.05 percent fall when ending the morning session at 5,393 points, and the Hang Seng China Enterprises Index also dipped 0.51 percent to 8,820.

It came after US President Donald Trump said on his social media account that the United States and China agreed to set tariffs on the latter at 55 percent and those on America at 10 percent, adding that the supply of rare-earth elements will be resumed. However, China was reported to put a six-month limit on the re-delivered licenses for rare earth exports.

In mainland China, the Shanghai Composite Index, however, returned to 3,404 points, 0.07 percent higher than the previous close. The Shenzhen Component Index also inched up 0.05 percent to 10,250 as of midday.

STAFF REPORTER