China stocks, yuan slip as US election counting progresses
U.S. stock futures jumped and the dollar rose across the board, as some tallies pointed to Trump making gains over Vice President Kamala Harris in battleground states.
China's blue-chip CSI300 Index fell 0.27% after opening a tad higher, while Hong Kong's benchmark Hang Seng was down 2.5%.
Hong Kong-listed China tech stocks declined broadly in early trade, dragging down the Hang Seng. E-commerce giant JD.com slumped more than 5% while Meituan and Alibaba were down nearly 4%, respectively.
The U.S. presidential election will have a meaningful impact on China's economy and capital markets. As part of his pitch to boost American manufacturing, Trump has promised voters he will impose tariffs of 60% or more on goods from China.
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