Hong Kong Stocks End Flat After Trump's New Tariff Threats; iMotion Automotive Shares Fall

MT Newswires Live2024-11-26

Hong Kong stocks ended Tuesday's session little changed, as caution ruled the market after US President-elect Donald Trump threatened new tariffs on Chinese goods.

The Hang Seng Index barely moved in positive territory to close at 19,159.20. The Hang Seng China Enterprises Index finished marginally lower at 6,851.56.

Trading was muted as investors digested Trump's planned new anti-drug tariffs on China, which he plans to impose on the first day of his second term, which begins on Jan. 20, 2025.

In a social media post, Trump said he would levy an additional 10% on Chinese products entering the US, a move aimed at boosting border security and curbing drug shipments to the US.

In corporate news, shares of iMotion Automotive Technology (Suzhou) (HKG:1274) fell 6% after the autonomous driving solutions provider said it is seeking to raise HK$73.3 million in net proceeds via a private placement of HK$4.4 million at HK$17.58 apiece.

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