China and Hong Kong Stocks Stumble Amid Trade Tensions
Stocks in Mainland China and Hong Kong experienced notable weekly declines, the most significant since April, due to weak domestic economic data and global trade concerns fueled by U.S. tariffs. Markets are wary as the U.S. pushes for trade deal deadlines, affecting China's economic outlook.
In a challenging week for investors, Mainland China and Hong Kong stocks registered their steepest losses since April, driven by disappointing domestic economic indicators and escalating global trade tensions.
On Friday, the Shanghai Composite index dipped 0.37%, closing at 3,559.95 points, while the blue-chip CSI300 index decreased by 0.51%. Over the week, the indexes recorded losses of 0.94% and 1.75%, respectively. These were the most significant declines since the U.S. President's recent tariff announcements in April.
In Hong Kong, the Hang Seng index fell 1.07%, culminating in a 3.47% weekly drop, its largest decline since April. Concerns have intensified over the U.S.'s new tariffs, with economists warning of their implications on China's trade outlook and potential strain on regional supply chains.
(With inputs from agencies.)
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