Hong Kong stocks recovered from a two-month low as investors assessed the impact of tariffs that US president-elect Donald Trump said he would impose on Chinese imports.
The Hang Seng Index rose 0.6 per cent to 19,258.09 as of 10.04am local time. The Hang Seng Tech Index gained 0.5 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both added 0.6 per cent.
Chinese search giant Baidu surged 3.7 per cent to HK$80.75 on media reports that its autonomous ride-hailing platform would start a trial operation in Hong Kong. Macau casino operator Sands China rallied 3.4 per cent to HK$19.42.
On social media Monday, Trump said he would impose an additional 10 per cent tariff on goods from China and a 25 per cent levy on all imports from Canada and Mexico. Earlier, he threatened to apply a universal 60 per cent tariff on imports of Chinese goods.
He said the new tariffs are needed to clamp down on migrants and illegal drugs flowing across the US's borders. He accused China of failing to follow through on promises to impose the death penalty on fentanyl traffickers, writing that "drugs are pouring into our country, mostly through Mexico, at levels never seen before."
CNSIG Anhui Hongsifang Fertilizer jumped 700 per cent to 64 yuan on its first day of trading in Shanghai.
Sumber : scmp.com
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