HK stocks retreat after best week in months
The Hang Seng Index ended the day at 24,072. File photo: RTHK
China stocks erased earlier losses to close higher on Monday, while Hong Kong shares pulled back after their best week in months as manufacturing data showed some resilience in the face of a fragile trade truce with the United States.
The benchmark Hang Seng Index ended the day at 24,072, down 211 points or 0.87 percent.
The Hang Seng China Enterprises Index fell 0.96 percent to end at 8,678 while the Hang Seng Tech Index slid 0.72 percent to 5,302.
Up north, stocks closed higher, with the benchmark Shanghai Composite Index up 0.59 percent at 3,444.
The Shenzhen Component Index closed 0.83 percent higher at 10,465. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 1.35 percent to close at 2,153.
The combined turnover of these two indices exceeded 1.51 trillion yuan, up from 1.12 trillion yuan the previous trading day.
Shares in the defence industry and semiconductor sector were among the biggest gainers, while those related to banking and brokerages suffered the most.
Japan's key stock index extended its winning streak for a fifth consecutive session on Monday, its highest in nearly 11 months as market sentiment was boosted by expectations that the United States may cut interest rates later this year.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 40,487, up 336 points, or 0.84 percent, from the previous trading day.
Early in the day, the Nikkei surged by over 700 points, buoyed by gains in US tech stocks, particularly the Nasdaq Composite.
However, gains were trimmed in the afternoon session as profit-taking emerged, especially in futures trading. (Reuters/Xinhua)
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