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Hong Kong stocks tumble on fears of trade war with US

The slump was led by Tencent, which fell more than 7%

HONG KONG, March 23. /TASS/. In Hong Kong, the benchmark Hang Seng Index fell 3.67% below the psychologically important 30,000-level on Friday after Beijing announced plans to levy duties on US imports in retaliation to protectionist measures assumed by the US President Donald Trump.

The slump in Hong Kong was led by Tencent, which fell more than 7%, similar to Sunny Optical Technology, Geely lost 6.2%, Russia’s aluminum producer Rusal dropped 4.7%.

The Shanghai and Shenzhen stocks also opened sharply lower on Friday.

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