Hong Kong stocks fell 73 points or 0.3% to 21,908 in early Monday trading, reversing gains from the prior session as investors adopted a cautious stance ahead of a key press briefing in China. Policymakers may announce new measures aimed at stabilizing employment and supporting growth following Friday's Politburo meeting. The decline came amid a sharp drop in U.S. futures, triggered by confusion over U.S. trade policy. Although President Donald Trump claimed progress was being made in trade talks with China and other nations, Treasury Secretary Scott Bessent failed Sunday to support Trump's statement that tariff discussions were ongoing with China. Capping further losses were fresh data showed that industrial profits in China grew 0.8% yoy in Q1 of 2025, a recovery from a 0.3% drop in Q4 2024. Property and consumer stocks weighed on the Hang Seng, with early laggards including Akeso Inc. (-10.8%), BYD Electronic Intl. (-6.6%), China Feihe (-3.8%), and China Overseas Land (-2.5%).
source: trading economi
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