Hong Kong stocks fell Thursday amid renewed US-China trade tensions following Washington's clarification that it will not pursue unilateral tariff reductions.

The Hang Seng Index fell 0.74%, or 162.86 points, at 21,909.76. The Hang Seng China Enterprises index also declined 0.73%, or 59.43 points, at 8,056.85.

Investor sentiment soured after US Treasury Secretary Scott Bessent said the US will not offer levy cuts unless there are reciprocal actions from China, the SCMP reported.

The statement came after US President Donald Trump hinted at a significant cut in tariffs on Chinese imports. A Wall Street Journal report stated citing a senior White House official that duties could go down to between 50% and 65%.

Meanwhile, Hong Kong's consumer prices rose 1.4% year over year in March, slower than the 1.7% average in January and February, according to Wednesday data from the city's census and statistics department.

In corporate news, wholesale and retail company HK Asia (HKG:1723) closed over 5% higher after it shared plans to raise net proceeds of about HK$64.2 million from a share and convertible bond issue.