HK, Shanghai Tumble As Trade Tensions Rise

The Hang Seng Index, which slumped more than 700 points during early trade, clawed its way back to end the day just 0.5 percent lower at 26,025.

The market has lost more than 2,000 points from last Tuesday as investors fretted over the US-China trade war.

Most blue chips ended in the red. Hang Lung Properties slumped more than 5 percent. New World Development plunged 4.4 percent. Sino Land slipped just over 3 percent.

HSBC lost more than 1 percent after the bank announced the stepping down of its CEO John Flint.

Across the border, shares also recouped part of early losses. The Shanghai Composited Index dropped 1.6 percent while the Shenzhen index lost 1.8 percent and the blue-chip CSI index fell just over 1 percent.

In South Korea, the Kospi Index slumped 1.5 percent after Pyongyang fired more missiles.

The Nikkei Index in Japan slipped 0.7 percent. Singapore fell 0.9 percent and Taiwan was down 0.3 percent.