Hong Kong stocks fell on Thursday as geopolitical tensions between the US and China spurred risk aversion.

The Hang Seng Index declined 0.92%, or 182.02 points, to end at 19,560.44. The Hang Seng China Enterprises index lost 1%, or 70.87 points, to finish at 7,014.13.

Beijing plans to restrict exports of critical minerals to the US after the Biden administration banned shipments of advanced semiconductors to China.

"Trump's re-election, together with the recent tech curbs by the US, has weighed on risk appetite," Wu Xinkun, an analyst at Haitong Securities, was quoted by South China Morning Post as saying. "The market is worried about a potential escalation of the China-US tensions, which will hold back China's economic fundamentals."

The developments come ahead of a key policy meeting in Beijing. China's top leaders will convene next week for the Central Economic Work Conference to outline the nation's economic agenda for 2025. The meeting may provide insights into China's potential response to new US tariffs.

In corporate news, shares of ESR Group (HKG:1821) closed 3% higher after the logistics assets manager received a HK$55.2 billion go-private proposal from a consortium including its founders.