The Hang Seng closed nearly flat at 22,616 on Monday after rising almost 1.5% earlier in the session. Gains in property and financial stocks ultimately offset losses in technology and consumer sectors.
Traders appeared to take profits following a tech-driven rally while awaiting further policy signals from Chinese President Xi Jinping's meeting with private enterprises, including Alibaba, Meituan, Xiaomi Corp, and BYD Co. Investors also monitored reports from Reuters, which indicated that Beijing hopes the European Commission will make a "political decision" regarding the bloc's anti-subsidy investigation into Chinese EVs.
Additionally, US President Donald Trump suggested that the 75-day deadline to ban short-video platform TikTok could be extended. Among large caps, China Unicom surged 7.5%, while Tingyi (Cayman Islands) Holdings gained 5.4%. On the downside, Zhaojin Mining Industry fell 3.8%, and Kingsoft Corp. dropped 2.9%.
Source: Trading Economics
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