Hong Kong stocks slip with Asian markets, Nasdaq on heightened recession risks

Name: China hits back at Trump with reciprocal tariffs, sanctions on US firms
Uploaded: 2025-03-11T02:27:08.000Z
Duration: 2 min 36 s
Description: China hits back at Trump with reciprocal tariffs, sanctions on US firms

Regional markets slipped following an overnight US$1 trillion sell-off in the Nasdaq 100 Index of America’s biggest tech companies

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People walk past screens showing Hong Kong’s stock market indicators outside the Exchange Square in Central. Photo: AP Photo

Yulu Ao

Published: 10:27am, 11 Mar 2025Updated: 4:53pm, 11 Mar 2025

Hong Kong stocks slipped for a third straight day, tracking losses in major Asian markets, amid concerns rising tensions stoked by US trade policies will hurt economic growth and fuel recession risks.

The Hang Seng Index slid slightly to close at 23,782.14 after slumping as much as 2.3 per cent earlier, adding to a 1.9 per cent loss on Monday and a 0.6 per cent setback on Friday. The Hang Seng Tech Index rose 1.4 per cent. The CSI 300 Index edged up 0.3 per cent and the Shanghai Composite Index added 0.4 per cent.

Japan’s Nikkei 225 fell 0.6 per cent, while South Korea’s Kospi Index lost 1.3 per cent and Australia’s S&P/ASX 200 Index slipped 0.9 per cent. The MSCI Asia-Pacific ex-Japan Index, which tracks major markets outside Japan, slid 1.2 per cent.

Alibaba Group Holding lost 0.7 per cent to HK$133.60, and e-commerce peer JD.com weakened 1.4 per cent to HK$160.10. Search-engine operator Baidu retreated 0.3 per cent to HK$92.25, while food delivery platform Meituan fell 1.9 per cent to HK$171.60.

Limiting losses, Kuaishou Technology surged 5.2 per cent to HK$66.35, and Li Auto gained 3.3 per cent to HK$113.

02:36

China hits back at Trump with reciprocal tariffs, sanctions on US firms

Stocks slumped on heightened recession fears. US President Donald Trump hit China and other US trade partners with higher tariffs and threatened more punitive measures, prompting retaliation. The Nasdaq 100 index of America’s biggest tech stocks crashed almost 4 per cent overnight, erasing US$1.1 trillion of value in the worst sell-off since 2022, according to Bloomberg data.