Mar 12, 2025, 16:02 GMT+71 min read
(MT Newswires) - Hong Kong stocks fell for the fourth straight day as concerns over the global trade war kept the tensions high amid uncertainty among investors regarding the achievability of China's new economic growth targets.
The Hang Seng Index fell 0.76%, or 181.83 points, to close at 23,600.31. The Hang Seng China Enterprises Index fell 0.84%, or 73.24 points, to end at 8,682.13.
China's "Two Sessions" closed on Tuesday, and concerns such as the tariffs imposed by US President Donald Trump on China and the ongoing tech wars were among those discussed, the South China Morning Post reported on Tuesday.
The closing of the Two Sessions left open questions about China's plans to revive its economy, as China opened the session by setting the economic growth target at 5%. Analysts have already said the target would be difficult to achieve with the measures detailed during the Two Sessions, the Associated Press reported.
These measures include 300 billion yuan in rebates for trade-ins of cars and appliances to boost spending, the report said.
Meanwhile, UBS downgraded China's tech sector to neutral from attractive after a year-to-date gain of 32%, Forexlive reported Wednesday.
On the geo-economic front, the Stock Exchange of Hong Kong or HKEX added the Stock Exchange of Thailand as a recognized stock exchange, according to a Monday news release, allowing Bangkok-listed companies to seek a secondary listing in Hong Kong. The Thailand exchange is Hong Kong's 20th recognized exchange across 18 countries.
In corporate news, Kontafarma China Holdingsexpects a consolidated net loss between HK$79.2 million and HK$118.8 million in 2024, wider than the HK$61.1 million net loss in 2023. Shares fell over 10% on Wednesday's close.
3D Medicineshas filed for a patent under the Patent Cooperation Treaty for a key component of its ionizable cationic lipid in the lipid nanoparticles for nucleic acid drug delivery, raising the shares over 9% on Wednesday's close.

Sumber : MT Newswires