Hong Kong stocks post biggest weekly drop in 2-1/2 months

Hong Kong stocks fell on Friday and posted their biggest weekly drop in two-and-a-half months as Washington looked set to unveil a tariff list targeting $50 billion Chinese goods, and Beijing vowed to retaliate, putting investors on edge. The Hang Seng index fell 0.4 percent, to 30,309.49, while the China Enterprises Index lost 0.7 percent, to 11,870.18 points. For the week, Hang Seng fell 2.1 percent, the biggest drop since the week ended March 23, while HSCE dropped 2.4 percent. China vowed on Friday to strike back quickly if the United States hurts its interests, hours before US President Donald Trump was due to unveil revisions to a tariff list targeting $50 billion worth of Chinese goods. The sub-index of the Hang Seng tracking energy shares dipped 0.9 percent while the IT sector dipped 0.5 percent, the financial sector was 0.47 percent lower and property sector rose 0.2 percent.