China stocks sink on trade war fears; Hong Kong dives 8%

ReutersApr 7, 2025 1:34 AM

SHANGHAI, April 7 (Reuters) - Hong Kong and Chinese stocks dived on Monday as markets around the world crumbled in the face of a widening global trade war and fears it will unleash a deep recession.

Hong Kong's Hang Seng index .HSI was down 8% in early trade. Shares in online giants Alibaba 9988.HK and Tencent 0700.HK were down more than 8%.

China's CSI300 .CSI300 blue-chip index fell 4.5%.

China, which is now facing U.S. tariffs of over 50%, responded in kind on Friday by slapping extra levies on U.S. imports.

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