Hong Kong stocks slip after Trump-Xi phone call provides little encouragement

Investors do not expect concrete progress on trade until later this year, while China’s economy faces continuing challenges, analysts say

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People walk in Exchange Square in Central, home of Hong Kong’s bourse operator, on March 28, 2025. Photo: Matthew Miller

Published: 10:20am, 22 Sep 2025Updated: 4:35pm, 22 Sep 2025

Hong Kong stocks slid on Monday after a highly anticipated call on Friday between US President Donald Trump and Chinese President Xi Jinping provided investors with little to whet their risk appetite.

The Hang Seng Index lost 0.8 per cent to 26,344.14 at the close. The Hang Seng Tech Index dropped 0.6 per cent. On the mainland, the CSI 300 Index advanced 0.5 per cent and the Shanghai Composite Index gained 0.2 per cent.

Chinese sportswear giant Anta Sports Products dropped 2.2 per cent to HK$94.65 after a fireworks show staged by its brand Arc’teryx in Tibet received criticism for possible environmental damage. Anta acquired Arc’teryx parent Amber Sports in 2019. Chinese electric-vehicle maker BYD fell 3.3 per cent to HK$109.70 following news that Berkshire Hathaway, the investment firm controlled by US billionaire Warren Buffett, has exited its holdings in the stock. Orient Overseas dropped 5.2 per cent to HK$126.60, while Citic lost 4.7 per cent to HK$11.33.

Limiting losses, Sunny Optical Technology, the world’s largest manufacturer of smartphone camera lenses, jumped 6.7 per cent to HK$87.05 after mainland sales of Apple’s latest iPhone got off to a strong start. Wuxi Biologics rose 6.1 per cent to HK$40.08, hitting a 52-week high, as investors bet on Beijing’s determination to support the “bioeconomy” as part of its high-quality growth strategy. Search-engine giant Baidu rose 3.2 per cent to HK$135.70.

The call between Trump and Xi covered issues including trade, fentanyl and the TikTok deal, as well as the need to bring the war between Russia and Ukraine to an end. Xi urged Trump to avoid restrictive trade measures and not to undermine progress made in earlier talks aimed at easing tensions.

Trump said he would meet Xi on the sidelines of the Asia-Pacific Economic Cooperation Summit in Seoul at the end of October, which would be the first face-to-face meeting for the leaders of the world’s two largest economies since Trump returned to office in January.

Hong Kong stocks slip after Trump-Xi phone call provides little encouragement

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Investors do not expect concrete progress on trade until later this year, while China’s economy faces continuing challenges, analysts say

Investors do not expect concrete progress on trade until later this year, while China’s economy faces continuing challenges, analysts say