Hong Kong Stocks Slump, Yuan Slides to 11-Year Low on Trade War
- WH Group, Cnooc among worst performers on Hang Seng Index
- Trade war esclations, street clashes weigh on city’s shares
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Hong Kong stocks slumped and the yuan weakened to an 11-year low as concern over the U.S.-China trade war spurred risk-off sentiment.
The Hang Seng Index closed down 1.9% in Hong Kong, after falling as much as 3.6%. Meat producer WH Group Ltd., AAC Technologies Holdings Inc. and Cnooc Ltd. were among the worst performers. The yuan slid 0.6% to 7.1425 per dollar, while the Shanghai Composite Index closed 1.2% lower.