The Hang Seng Index declined 0.2 per cent to 26,392.29 as of 11.15am local time, after jumping as much as 0.6 per cent earlier. The Hang Seng Tech Index lost 0.1 per cent. On the mainland, the Shanghai Composite Index retreated 0.2 per cent while the CSI 300 Index lost 0.3 per cent.
Aluminium producer China Hongqiao Group slumped 6.2 per cent to HK$24.94, while pharmaceutical firm Wuxi AppTech slid 2.6 per cent to HK$108.90. E-commerce company JD.com dropped 1.4 per cent to HK$129.80, and Hong Kong developer Sun Hung Kai Properties lost 2 per cent to HK$94.95.
Online travel-booking agency Trip.com jumped 2.8 per cent to HK$590, while food-delivery company Meituan gained 1.9 per cent to HK$99.35. Electric-vehicle maker Li Auto rose 1.9 per cent to HK$99.20, while peer Geely Automobile Holdings gained 2.6 per cent to HK$18.94 and BYD advanced 1 per cent to HK$109.20.
On Monday, US and Chinese officials reached a framework agreement to shift TikTok to US-controlled ownership, a breakthrough in fraught negotiations that will be confirmed in a Friday call between Trump and Xi.
The two sides “reached a basic framework consensus on properly resolving TikTok-related matters through cooperation, reducing investment barriers and promoting relevant economic and trade cooperation”, Chinese state-owned Xinhua News Agency reported on Tuesday.
