Hong Kong stocks fell marginally on Wednesday as investor sentiment remained on edge amid news of expanding tariffs by the US to be announced by April 2.
The Hang Seng Index fell slightly to finish the day at 22,944.24. The Hang Seng China Enterprises Index also marginally decreased to end at 8,463.10.
Investors remained cautious as fears of a trade war with the US resurfaced after President Donald Trump said Tuesday he is expected to apply duties of around 25% on the imports of automobiles, semiconductors, and pharmaceuticals, Bloomberg reported Wednesday.
Trump added that the levies will rise substantially over the course of a year, according to the report.
The US government previously announced 25% tariffs on steel and aluminum products which will become effective in March.
In corporate news, shares of multiple tech heavyweights slumped Wednesday, with Meituan (HKG:3690) falling 3% and Alibaba Group (HKG:9988) and Baidu (HKG:9888) each logging a 2% drop, respectively.
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