The Hong Kong stock exchange collapsed after US President Donald Trump announced the imposition of duties on Chinese goods. It is reported by the newspaper South China Morning Post.
According to the publication, the considered auspicious year of the Snake on the lunar calendar did not justify the hopes of investors faced with the threat of a resumption of the trade war between China and the United States.
According to the newspaper, the Hang Seng index lost 1.8% to 19,853.62 points, which was the biggest drop in a month. The Hang Seng Tech index fell 2.4%.
Due to the celebration of the Lunar New Year in China, the stock exchanges of mainland China remain closed until February 5.
Last Saturday, Trump signed a decree imposing duties on goods from Canada, China and Mexico. According to the document, imports from Mexico and Canada is subject to a tariff of 25%. Duties of 10% are imposed on Chinese products.
The measures will come into force on February 4.
The Ministry of Commerce of the People's Republic of China said it would file a lawsuit with the World Trade Organization in this regard.
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