Hong Kong, Shanghai stocks dive on US tariffs threat

Hong Kong and Shanghai stocks sank on Wednesday as investors were rattled by a US threat to impose tariffs on another $200bn of Chinese goods, escalating a trade war between the economic giants.

The Hang Seng Index fell 1.29% to 28 311.69.

The benchmark Shanghai Composite Index fell 1.76% to 2 777.77 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.96% to 1 554.62.

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