Hong Kong stocks fell 52 points or 0.2% to 23,161 in early deals on Wednesday, reversing a modest gain in the previous session amid losses in most sectors. Investors took a cautious stance ahead low as US futures drifted lower. Uncertainty also grew over China's policy stimulus, raising concerns about whether it would be timely and sufficient to counter escalating trade pressures.
Goldman Sachs analysts warned that China's manufacturing activity could face pressures in the coming months due to additional trade barriers. Locally, Hong Kong's retail sales plunged 15.0% yoy in February, marking the steepest drop in ten months. Xiaomi Corp. slumped 2.9% to a six-month low after a fatal accident involving its SU7 electric vehicle. Other major decliners included Haidilao Intl. Hlds. (-2.1%), China Hongqiao Group (-1.9%), Sun Hung Kai Properties (-1.7%), and ZTO Express (-1.3%).
Source : Trading Economics
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