Hong Kong stocks closed lower as investors took some profit from gains spurred by the trade-war truce between China and the US. The Hang Seng Index (HSI) fell 0.79%, the Hang Seng Tech Index (HSTECH) declined by 1.56%.

Green Tea Group fell over 7% in Hong Kong’s grey market trading. The restaurant chain to start trading on the Hong Kong bourse on May 16.

The restaurateur intends to use the IPO proceeds to expand its restaurant network, establish a centralized food processing facility, upgrade its IT infrastructure, and boost working capital. Citigroup, CMB International Capital, GF Securities Brokerage, and Guoyuan Securities Brokerage are the IPO's joint global and overall coordinators.

E-commerce juggernaut JD.com lost 4.38 per cent; Meituan, NIO down over 2%; Alibaba Group Holding lost 1.15 per cent before its earnings card later on Thursday; Tencent Holdings slipped 0.19 per cent despite posting stronger-than-expected first-quarter results.

GEELY AUTO rose by 2.30%. The company reported outstanding Q1 results with revenue of RMB 724.95 billion, a 25% year-on-year increase, and a net profit of RMB 56.72 billion, up 264% year-on-year.

Weimob surged by 19.30%. The company benefited from the establishment of the e-commerce product department by WeChat and the launch of "Weimob X WeChat Store" solutions, showcasing the potential of AI development and WeChat store business.

After a 19 per cent rally on the Hang Seng Index from an April low, investors are worried that the run-up was too fast. While China and the US agreed to cut tariffs on each other’s imported products, the tentative deal is in place for 90 days, with some economists warning that the issues between the two nations remain protracted. Investors will focused more on economic challenges, such as China’s deflationary trend and sticky inflation in the US.