Hong Kong stocks fell 0.8% to 23,260 in early Monday trade, extending losses for a second session amid broad sector declines. Sentiment remained weak as investors braced for US reciprocal tariffs set for Wednesday.
Meanwhile, an upbeat Chinese PMI failed to offer support despite data showing factory activity at a one-year high and service growth at a three-month high. On the corporate front, CK Hutchison dropped nearly 3% after Chinese state media condemned its port sale near the Panama Canal to BlackRock's group.
Other notable laggards included Lenovo (-2.2%), Xiaomi (-2%), Tencent Holdings (-1.6%), and Meituan (-1.5%). On the upside, China Construction Bank (+4.3%), Citic (+4.1%), and PetroChina (+2.9%) posted strong gains.
Source: Trading Economics
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