The Hang Seng fell 212 points, or 0.9%, to close at 24,072 on Monday, down for a third straight session as all sectors declined. Sentiment was weighed down by a third straight monthly decline in China's manufacturing sector in June, ahead of similar results from a private survey due on Tuesday. Financials led the decline, followed by property, technology and consumer discretionary. Significant losers included Bank of China Hong Kong (-5.5%), Li Auto (-3.3%), Meituan (-2.9%) and Tencent Hlds. (-1.5%).
On the positive side, Laopu Gold surged to a record high, buoyed by high gold prices, even as its IPO lock-up period expired. However, the Hang Seng surged 3.4% in June, its second straight monthly gain, supported by strong IPO activity in the city and easing concerns over U.S. tariffs, as most of the Trump administration's toughest threats have yet to materialize. Meanwhile, Chinese Premier Li Qiang reiterated Beijing's commitment to boosting consumption and tackling deflationary pressures through firm policy actions.
Source: Trading Economics
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