Hong Kong Market Slips As Trade-war Fears Return

Hong Kong stocks fell in the morning session on Thursday after the Federal Reserve indicated four interest rate hikes this year, while investors were also spooked by weak Chinese data and fresh trade war concerns.

The Hang Seng Index shed 0.6 percent, to 30,533.

On the mainland, the Shanghai Composite Index shed 0.5 percent, to 3,034 and the Shenzhen Composite Index gave up 0.5 percent, to 1,723.

Asian markets mostly fell as US President Donald Trump stoked trade war fears by suggesting he will hit China with fresh tariffs.

Tokyo ending the morning 0.4 percent lower. Seoul fell 1.2 percent and Singapore was also off 0.2 percent while Sydney eased 0.1 percent.

Trade war fears returned to the fore after Trump warned Beijing of possible fresh tariffs.

"China could be a little bit upset about trade because we are very strongly clamping down on trade," he said in an interview aired on Fox News Wednesday.

His comments come as he prepares to make a decision Friday on whether to impose measures on billions of dollars worth of goods from China. "You will see over the next couple of weeks. They understand what we are doing," he said. (AFP)

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