Hong Kong stocks inched down marginally on Wednesday, as investor sentiment remained on the fence in the backdrop of a potential trade war following technology sanctions by the US and hopes for further stimulus measures from China.
The Hang Seng Index fell slightly to finish the day's session at 19,742.46. The Hang Seng China Enterprises Index also saw a minor decrease at 7,085.
After the US imposed restrictions on Chinese chipmakers, state-backed industry groups in China urged a boycott of US semiconductor products, according to an SCMP report.
Newly elected US President Donald Trump had also warned of additional 10% tariffs on Asian imports just last week.
The Ministry of Commerce retaliated by sharing its plans to limit the export of key minerals needed for technological and defense purposes to the US on Tuesday, further fuelling fears of a trade war between two of the largest economies in the world.
Amidst the uncertainty caused by trade tensions, investors await a glimmer of hope in the form of relief provided by China through fiscal support measures.
In corporate news, Hong Kong-listed shares of Maanshan Iron & Steel (HKG:0323, SHA:600808) surged nearly 7% amid news of controlling shareholder Magang (Group) boosting its stakeholding in the steel company by 68,927,534 shares.
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