Hong Kong Stocks Slump Amid Renewed US-China Trade Tensions; Innovax Surges

Published on 10/13/2025 at 04:49 am EDT
(MT Newswires) -- Hong Kong equities declined sharply on Monday as escalating US-China trade tensions rattled investor sentiment, triggering a broad sell-off.
The Hang Seng Index dropped 400.84 points, or 1.5%, to close at 25,889.48, while the Hang Seng China Enterprises Index fell 135.78 points, or 1.5%, to end at 9,222.54.
US President Donald Trump on Friday announced sweeping 100% tariffs on imports from China and new export controls on critical software, effective Nov. 1, in retaliation for Beijing's curbs on rare earth shipments.
China on Sunday hit back at the tariffs, calling them "hypocritical" and defending its rare earth export curbs as lawful controls rather than a ban.
Trump and Chinese President Xi Jinping are expected to meet later this month in South Korea on the sidelines of the Asia-Pacific Economic Cooperation forum.
In corporate news, Innovaxclosed over 41% higher after saying it could become the subject of a mandatory takeover offer following the sale of its controlling shareholder's stake to an investor.
Meanwhile, Powerlong Real Estate declined 3% after signing a restructuring support agreement with a group of creditors holding about 31% of its offshore debt.

Sumber : MT Newswires