Hong Kong stocks plunge 12 on trade war

Electronic sign board showing the Heng Seng Index stocks in Hong Kong on April 7, 2025. [AFP]

Shares in Hong Kong plummeted more than 12 percent Monday in their worst day in more than 16 years as China's retaliation against Donald Trump's tariffs ramped up a trade war and fuelled recession fears.

The Hang Seng Index plunged 12.4 percent, or 2,828.49 points, to 20,021.32, while in mainland China, the Shanghai Composite Index shed 7.7 percent, or 258.21 points, to 3,083.80.