Hong Kong stocks open lower after US holiday
The Hang Seng Index was down by about a third of a percentage point in early trading. Photo: RTHK
The Hang Seng Index lost 87.21 points or 0.36 percent to open at 23,828 on Monday.
Mainland stocks also opened lower with the benchmark Shanghai Composite Index down 0.12 percent at 3,467 and the Shenzhen Component Index down 0.2 percent at 10,488.
US markets, a key gauge of investor sentiment, were closed on Friday for a public holiday. (with additional reporting from Xinhua)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Standard
2 hours ago
- The Standard
Hong Kong stocks rise as Middle East tensions ease
The Hang Seng Index added 185 points, or about 0.77 percent, to 24,362 points by noon. SING TAO
The Standard
5 hours ago
- The Standard
German pension fund allocates US$50m for Chinese stocks
The Hang Seng Index has risen 16 percent year-to-date, outperforming the S&P 500 by nearly 10 percentage points. Photo by REUTERS
RTHK
6 hours ago
- RTHK
HK stocks edge down as tariff deadline looms
HK stocks edge down as tariff deadline looms The Hang Seng Index ended the day down 28.23 points, or 0.12 percent, at 23,887.83. File photo: Reuters Mainland and Hong Kong stocks edged lower on Monday as anxiety over US trade policy intensified ahead of the July 9 tariff deadline, with upcoming inflation data expected to further test investor nerves. The benchmark Hang Seng Index ended the day at 23,887.83, down 28.23 points or 0.12 percent. Mainland stocks closed mixed, with the benchmark Shanghai Composite Index up 0.02 percent at 3,473.13 while the Shenzhen Component Index closed 0.7 percent lower at 10,435.51. The combined turnover of these two indices stood at 1.21 trillion yuan, down from 1.43 trillion yuan on the previous trading day. The power and ceramics sectors emerged as the top performers, while biopharmaceutical and brewing stocks faced significant downward pressure. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 1.21 percent to close at 2,130.19. At market close, China's blue-chip CSI300 Index slipped 0.4 percent, while the Shanghai Composite Index barely changed. Although China is not at risk of imminent higher tariffs, thanks to the trade truce with the United States, sentiment was still largely subdued as US President Donald Trump's policy swings left investors on edge. Trump warned on Sunday that he will impose an additional 10 percent tariff on any countries aligning themselves with what he called the "Anti-American policies" of the Brics group of developing nations. "Markets are set to see more volatility from here" and are unlikely to see a sustained uptrend with the expiring tariff deadline and trade policy uncertainties impacting risk appetite, analysts at Huatai Securities said in a note. Leading the onshore markets' losses on Monday, the AI sector declined 1.1 percent, the energy sector slid 1.8 percent while the liquor distillers index weakened 0.8 percent. The medical-services sector weakened 0.7 percent after the Finance Ministry said on Sunday it was restricting government purchases of medical devices from the European Union in retaliation for Brussels' own curbs last month. Helping offset the losses, Chinese property developers listed in mainland and Hong Kong climbed by 1.4 percent and 0.9 percent, respectively, after the housing regulator vowed to put a floor on dropping home prices. Traders are also watching for China's key inflation data due out on Wednesday to gauge the health of the world's second-largest economy in the face of persistent deflation pressure and trade risks.(Reuters/Xinhua)
