Hong Kong, Shanghai stocks plunge after Trump China threat

Hong Kong: Hong Kong stocks tumbled in the first few minutes of trade Monday after Donald Trump warned he would hike tariffs on hundreds of billions of dollars’ worth of Chinese goods at the end of the week.

The Hang Seng Index plunged 2.43 per cent, or 730.82 points, to 29,350.73.

The benchmark Shanghai Composite Index dived 3.04 per cent, or 93.61 points, to 2,984.73 and the Shenzhen Composite Index, which tracks stocks on China’s second exchange, sank 3.66 per cent, or 59.82 points, to 1,576.77.