Hong Kong stocks fall to a 2-week low as investors await progress on US trade deals
Trump’s 90-day pause on tariffs scheduled to end on July 9; insurer FWD Group rises after debuting in Hong Kong
The Hang Seng Index dropped 0.1 per cent to 23,887.83 at the close, its lowest level since June 23. The Hang Seng Tech Index added 0.3 per cent. On the mainland, the CSI 300 Index slid 0.4 per cent and the Shanghai Composite Index was little changed.
Talks with Japan, South Korea, the European Union, India and Vietnam were under way over the weekend. The 90-day ceasefire between China and the US was scheduled to end next month. Asian stocks have lately risen close to a four-year high and US equities rallied to all-time highs since the Trump administration unveiled a tentative truce with key trading partners in April.
“The path forward isn’t clear, but the terrain is littered with risk,” said Stephen Innes, a managing partner with SPI Asset Management in Bangkok. “For now, traders are adjusting positions with the caution of someone crossing a minefield in low visibility. No one wants to [have] too much directional exposure into an event where the dealer might change the cards mid-hand.”