Hong Kong stocks fall to a 2-week low as investors await progress on US trade deals
The Hang Seng Index dropped 0.3 per cent to 23,843.28 as of 9.56am local time, heading for its lowest close since June 23. The Hang Seng Tech Index lost 0.4 per cent. On the mainland, the CSI 300 Index slid 0.3 per cent and the Shanghai Composite Index retreated 0.1 per cent.
Alibaba Group Holding, owner of the Post, retreated 2.5 per cent to HK$102.50 and Tencent Holdings slipped 0.3 per cent to HK$495.20. Meituan slid 3.7 per cent to HK$116.40 and Xinyi Solar Holdings slumped 4.9 per cent to HK$2.74.
Investors were closely watching the progress on
trade talks , with a 90-day pause expiring on July 9. US President Donald Trump said he would notify on Monday about a dozen countries of their new tariff levels.
The notifications were initially supposed to go out on July 4 with a tariff imposition date of August 1, according to Trump's previous comments. US officials were busily negotiating through the holiday weekend with Japan, South Korea, the European Union, India and Vietnam.
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