Hong Kong Equities Under Pressure
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Shares in Hong Kong tumbled 486 points or 2.1% to 22,460 on Thursday morning session, marking the second straight session of decline amid a pullback in US futures as investors analyzed US President Donald Trump’s proposed levies of about 25% on autos, chip, and drug imports.
Markets moved further away from their highest in over four months, hit earlier in the week after the latest FOMC meeting minutes showed Fed officials were ready to hold interest rates steady due to stubborn US inflation and economic policy uncertainty.
While sectors suffered deep losses, the Hang Seng Tech index fell over 3% as profit-taking in tech stocks persisted.
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