Hong Kong stocks decline as US-China tariff tensions weigh on market sentiment

Name: US beef off the menu as trade war hits Beijing’s American-style restaurants
Uploaded: 2025-04-24T02:27:39.000Z
Duration: 2 min 55 s
Description: US beef off the menu as trade war hits Beijing’s American-style restaurants

US Treasury Secretary says President Trump has not offered to remove tariffs on China on a unilateral basis

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Yulu Ao

Published: 10:27am, 24 Apr 2025Updated: 4:33pm, 24 Apr 2025

Hong Kong stocks fell for the first time in four days on Thursday, as sentiment deteriorated after the US Treasury Secretary said that the White House had not offered to cut tariffs unilaterally.

The Hang Seng Index declined 0.7 per cent to 21,909.76 at the close of trading, paring some of the 2.4 per cent gains recorded on Wednesday. The Hang Seng Tech Index lost 1.5 per cent. On the mainland, the CSI 300 Index eased 0.1 per cent, while the Shanghai Composite Index was little changed.

E-commerce giant JD.com retreated 6.2 per cent to HK$124.20, food-delivery platform Meituan lost 5.2 per cent to HK$127.00 and travel-booking agency Trip.com fell 1.9 per cent to HK$446.60.

Among the gainers, Chow Tai Fook Jewellery Group jumped 6.9 per cent to HK$9.63, apparel maker Shenzhou International Group added 0.5 per cent to HK$52.80, and pharmaceutical maker Hansoh Pharmaceutical Group advanced 2.1 per cent to HK$24.25.

02:55

US beef off the menu as trade war hits Beijing’s American-style restaurants

Investors showed their disappointment as the US has not offered a clear road map for a de-escalation in the US-China trade war, despite US President Donald Trump saying that he would consider a substantial tariff cut on Chinese goods.