The Hang Seng Index fell 2.2 per cent to 22,778.45 at the noon trading break, the biggest decline since April 7. The Hang Seng Tech Index slipped 2.4 per cent. Mainland markets are closed for the Dragon Boat Festival holiday and will resume trading on Tuesday.
All but five of the Hang Seng Index’s 83 members traded lower. Electric carmaker Li Auto tumbled 4.2 per cent to HK$107.60, while peer BYD lost 3.2 per cent to HK$380.20. Short-video platform Kuaishou Technology dropped 3.7 per cent to HK$51.35, while sportswear manufacturer Anta Sports Products weakened 3.5 per cent to HK$92.15.
Casino operators Sands China added 1.2 per cent to HK$15.60, while peer Galaxy Entertainment Group rose 0.8 per cent to HK$33.65 after gaming revenue in Macau rose 5 per cent year on year in May to the highest level since January 2020.
05:19
How are Chinese citizens feeling the effects of the US-China tariff war?
How are Chinese citizens feeling the effects of the US-China tariff war?
Investors reassessed their optimistic bets after US President Donald Trump on Friday said China had violated a big part of the trade tariff agreement, without providing details. The Trump administration’s wide-ranging crackdown against China, including export controls on chips for artificial intelligence and plans to revoke visas for Chinese students, also weighed on sentiment.
