Market rally runs out of steam

The HSI ended 192 points lower. SING TAO
The HSI ended 192 points lower. SING TAO

Staff reporter and agencies

Hong Kong stocks closed slightly lower yesterday despite a morning session rally amid concerns of rising Sino-US trade tensions.

The benchmark Hang Seng Index once slumped to 20,417 points after rallying to 20,827, dragged down by dampened market sentiment as a tariff war looms. It closed at 20,597, 0.93 percent or 192 points lower from Tuesday's close, after remaining flat in the afternoon session as the US Postal Service suspended the delivery of packages from China and Hong Kong.

The turnover reached HK$192.2 billion, hitting a nearly one-month high, boosted by the mainland market's reopening after the Chinese New Year holiday.

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