The Hang Seng closed almost flat at 23,202 on Wednesday, following modest gains in the prior session, as strength in tech and financials were offset by weakness in property and consumers.
Traders awaited President Trump's announcement on new reciprocal tariffs later today. The new duties are set to take effect immediately, the White House said, while a separate 25% tariff on auto imports will be enforced from April 3. On the geopolitical front, China conducted a second day of military drills around Taiwan on Wednesday, rattling market sentiment.
At the same time, upbeat manufacturing data for March in China was overshadowed by worries that more trade barriers could pressure the sector in the coming months.
Xiaomi Corp. plunged 4.3% to an over six-week low amid concerns over a fatal EV crash. Meanwhile, XPeng lost 0.2% despite its sales surging 268% yoy in March to deliver 33,205 units. On the upside, Zhejiang Leapmotor (12.1%) and Chow Tai Fook Jewellery (9.6%) logged strong gains.
Source: Trading Economics
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