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Hong Kong, Shanghai stocks dive on US tariffs threat
[HONG KONG] Hong Kong and Shanghai stocks sank on Wednesday as investors were rattled by a US threat to impose tariffs on another US$200 billion of Chinese goods, escalating a trade war between the economic giants.
The Hang Seng Index fell 1.29 per cent, or 370.56 points, to 28,311.69.
The benchmark Shanghai Composite Index fell 1.76 per cent, or 49.86 points, to 2,777.77 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.96 per cent, or 31.16 points, to 1,554.62.