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Hang Seng Drops Nearly 1% Amid U.S. Tariff Fears
🇵🇾 Paraguay /Economy & Trade

Hang Seng Drops Nearly 1% Amid U.S. Tariff Fears

From ABC Color · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

News From a news agency Context piece
  • The Hang Seng index in Hong Kong fell by nearly 1% due to fears of escalating geopolitical tensions following new U.S. tariffs.
  • The tariffs announced by the United States include China and Hong Kong.
  • Major decliners included Xinyi Glass and CMOC, while BOC Hong Kong and Geely saw gains.

Hong Kong's stock market benchmark, the Hang Seng index, closed down 0.98% on Friday amid investor concerns over rising geopolitical tensions. The decline was triggered by the United States' announcement of a new round of tariffs that encompass both China and the former British colony.

The benchmark index shed 247.58 points, settling at 24,963.23. Similarly, the Hang Seng China Enterprises index, which tracks mainland Chinese companies listed in Hong Kong, also experienced a 0.98% decrease.

Among the significant losers were photovoltaic panel manufacturer Xinyi Glass, which dropped 5.15%, and molybdenum and tungsten specialist CMOC, down 4.49%. Conversely, BOC Hong Kong, the local subsidiary of the state-owned Bank of China, saw a rise of 5.98%. Automaker Geely also posted gains, increasing by 2.92% after announcing a partnership with Ford to produce five models at Ford's plant in Valencia, Spain.

The total trading volume for the session reached 209.88 billion Hong Kong dollars, equivalent to $26.76 billion or €23.51 billion.

DistantNews Editorial

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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