Rome, April 7 (LaPresse) – Shares in Hong Kong and China plunged at the market open amid an expanding global trade war and fears that it could trigger a deep recession. Hong Kong’s Hang Seng Index fell by more than 10% in morning trading, which, if sustained, would mark the benchmark’s biggest one-day drop since the 2008 global financial crisis. Banking stocks plummeted: Hong Kong-listed shares of HSBC and Standard Chartered fell by 15%. Automotive and technology stocks bore the brunt of the sell-off. The Hang Seng Technology Index dropped 11.15%. Tech giant Alibaba (09988.HK) tumbled 12.55%.
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