Hong Kong, Shanghai stocks end sharply lower

[HONG KONG] Stocks sank in Hong Kong and Shanghai on Wednesday, reversing early gains, following reports that the US was considering more than doubling threatened tariffs on $200 billion of Chinese goods.

The Hang Seng Index fell 0.85 per cent, or 242.27 points, to 28,340.74.

And the benchmark Shanghai Composite Index dropped 1.80 per cent, or 51.87 points, to 2,824.53 while the Shenzhen Composite Index, which tracks stocks on China's second exchange, shed 1.72 per cent, or 27.13 points, to 1,549.28.

AFP