0201 GMT - Hong Kong shares fall sharply in early trade, tracking overnight declines on Wall Street amid escalated trade tensions. The Hang Seng Index drops 3.5% to 19412.51 and the Hang Seng Tech Index falls 4.9%. Tuesday's initial enthusiasm in U.S. stocks quickly unraveled after the U.S. trade representative said President Trump won't provide exemptions to his new global tariffs in the near term, UOB analysts say in commentary. Trump's 104% tariff on all Chinese goods take effect later today. Among major stocks, tech and auto stocks lead declines. Lenovo slides 11% lower, Alibaba falls 5.5% and Li Auto declines 9.5%. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
April 08, 2025 22:01 ET (02:01 GMT)
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