SHANGHAI: Hong Kong stocks finished lower on Wednesday as heightened Sino-US tensions dented sentiment, while investors are closely watching US inflation print, due later in the day. China shares were mixed.
China’s blue-chip CSI300 Index closed down 0.1%, while the Shanghai Composite Index gained 0.4%.
The Hong Kong benchmark Hang Seng Index was down 0.9%, and the China Enterprises Index declined 1.2%.
Taiwan President Tsai Ing-wen said on Wednesday that her recent overseas trip, which included the United States, showed the world Taiwan’s determination to defend freedom and democracy.
Tsai’s statements came after state media reported that the Chinese navy continued with “actual combat training” around Taiwan on Tuesday.
Investors continue to weigh geopolitical tensions when making decisions. Warren Buffett called geopolical tensions “a consideration” in Berkshire Hathaway Inc’s decision to sell most of its stake in Taiwanese chipmaker TSMC, according to Nikkei.
Meanwhile, investors are closely watching the US consumer price index (CPI) as it will likely influence the Federal Reserve’s monetary policy path.
Tech stocks traded in Hong Kong slumped 1.9%, with Tencent Holdings Ltd and Alibaba Group Holding Ltd down 5.2% and 3.3%, respectively.
Chinese stocks were mixed, even though better-than-expected social financing data underscores strong credit expansion in March.
“Further improvement of credit demand and the still accommodative overall monetary policy stance contributed to the fast credit growth,” Goldman Sachs said in a note.
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