China and Hong Kong stocks fell on Wednesday after U.S. President Donald Trump hinted at new tariffs on Chinese imports, ending a brief reprieve for the markets. China's blue-chip CSI 300 Index and the Shanghai Composite Index both declined 0.

It will be a lose-lose situation if the US president goes ahead with threat of 10 per cent tariffs on Chinese goods, experts say.

Hong Kong Chief Executive John Lee also said Donald Trump's second presidency marks a “good start” for US-China relations.