Hong Kong stocks shed over 1% to close at 23,120 on Monday, 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 more than 3% after Chinese state media condemned its port sale near the Panama Canal to BlackRock's group. Other notable laggards included Sands China (-5%), Lenovo (-3.5%), Xiaomi (-3.6%), SMI (-4%), and BYD (-3.4%). On the upside, PetroChina advanced over 2%, after reporting that its profit hit record level from last year. China Construction Bank (+2.7%), China Mobile (+1.3%), and Citic (+1.4%) also posted strong gains. The index posted a modest 0.8% gain for the month but surged over 15% for the quarter.
Source : Trading Economics
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