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.

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

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.