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Hong Kong, Shanghai: Stocks dive on US-China trade war fears
[SHANGHAI] Hong Kong and Chinese share markets slumped on Friday as tit-for-tat threats between the United States and China raised fears of a damaging trade war between the world's two biggest economies.
The Hang Seng Index fell 2.45 per cent, or 761.76 points, to end at 30,309.29.
The benchmark Shanghai Composite Index closed 3.39 per cent lower, or 110.72 points, at 3,152.76 on turnover of 293.4 billion yuan (S$61.1 billion). It lost 3.58 per cent over the week.
The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 4.49 per cent, or 82.99 points, to 1,766.61 on turnover of 341.9 billion yuan. It lost 5.18 per cent in the week.