Hong Kong stocks rangebound as traders focus on US tariff threats, ignore China trade data

The Hang Seng Index rose 0.1 per cent to 24,166.03 at the noon break, after dropping as much as 0.2 per cent. The Hang Seng Tech Index eased 0.2 per cent. On the mainland, the Shanghai Composite Index advanced 0.4 per cent, while the CSI 300 Index added 0.2 per cent.

Leading the gains, electric-car maker Li Auto jumped 2.9 per cent to HK$111.80, while Alibaba Group Holding rose 1.4 per cent to HK$106.60. Coal miner Zijin Mining Group advanced 2 per cent to HK$20.40 and China Shenhua Energy added 4.7 per cent to HK$32.45.

Search-engine operator Baidu slumped 3 per cent to HK$83.95, while e-commerce giant JD.com slid 1.1 per cent to HK$121.90 and online travel platform Trip.com eased 0.5 per cent to HK$485.60.

US President Donald Trump on Friday proposed raising baseline tariffs on imports to 15 to 20 per cent, and later threatened 30 per cent duties on goods from the European Union and Mexico from August 1, despite ongoing talks.