Chinese move to hike tariffs on US goods hammer down Hong Kong, Shanghai stock

Shares in Hong Kong sank Tuesday, in line with a sell-off across Asia and following a hammering on Wall Street as China's retaliation against US tariff hikes fanned fears of an all-out trade war between the economic titans. The Hang Seng Index fell 1.50 per cent, or 428.22 points, to 28,122.02.

The benchmark Shanghai Composite Index lost 0.69 per cent, or 20.10 points, to 2,883.61 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 0.62 per cent, or 9.68 points, to 1,542.07.