Hong Kong stocks fell on Tuesday after three consecutive sessions of gains as sentiment soured due to escalating US tariffs.
The Hang Seng Index slid 1.06%, or 227.12 points, to close at 21,294.86. The Hang Seng China Enterprises index fell 1.31%, or 104.09 points, to end at 7,842.72.
Shares of Hong Kong-listed Chinese automakers tumbled after US President Donald Trump hinted at import duties on cars, South China Morning Post reported.
Geely Automobile (HKG:0175) led decliners with an over 10% fall, followed by Great Wall Motor (HKG:2333, SHA:601633) and Li Auto (HKG:2015) with a 7% and nearly 6% decline, respectively.
The development came a day after Washington announced 25% tariffs on all steel and aluminum imports, in addition to the 10% duty on Chinese goods.
The Trump administration may also announce reciprocal tariffs on countries that have imposed duties on imports from the US, according to the SCMP report.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.