Hong Kong stocks fell for the second day as authorities' attempts to boost the stock market through long-term investment plans failed to bring the required encouragement to the investors whose sentiment has been soured by reports of U.S. tariffs on Chinese imports starting next month.

The Hang Seng Index fell 0.40%, or 78.21 points, to close at 19,700.56 on Thursday. The Hang Seng China Enterprises Index fell 0.18%, or 12.92 points, to end at 7,164.22.

Wu Qing, the chairman of the China Securities Regulatory Commission announced plans on Thursday to boost the stock market. Authorities will call on Chinese insurers to invest at least 100 billion yuan in long-term funds into stocks in the first half.

The move is seen to aid the country's struggling stock market following US President Donald Trump's statement that he will slap 10% tariffs on Chinese goods beginning in February, Reuters reported Thursday, a report said.

In corporate news, OSL Group (HKG:0863) expects a profit of between HK$47 million and HK$52 million from continuing operations for the year 2024, compared with a loss from continuing operations of around HK$250 million in 2023, propelling the shares of the company to close over 9% higher on Thursday.

Google divested 329,000 Mobvoi (HKG:2438) shares for HK$169,796.9 at an average price of about HK$0.5161 apiece. The shares of the company closed over 9% lower on Thursday.

SHINEWING (HK) CPA has resigned as Yuan Heng Gas' (HKG:0332) auditor effective Wednesday, while the natural gas company named Prism Hong Kong as its new auditor. Shares of the company closed over 8% lower on Thursday.