Hong Kong stocks slipped on Monday after a highly anticipated call on Friday between US President Donald Trump and Chinese President Xi Jinping provided investors with little to encourage risk appetite.
The Hang Seng Index lost 0.5 per cent to 26,423.78 as of 9.45am local time, giving up much of last week’s 0.6 per cent gain. The Hang Seng Tech Index dropped 0.6 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both lost about 0.1 per cent.
Chinese sportswear giant Anta Sports Products dropped 3.7 per cent to HK$93.20, while Bank of China fell by 0.5 per cent to HK$4.31.
Limiting losses, Sunny Optical Technology, the world’s largest manufacturer of smartphone camera lenses, jumped 3.9 per cent to HK$84.85.
The call between Trump and Xi covered issues including trade, fentanyl and the TikTok deal, as well as the need to bring the war between Russia and Ukraine to an end.
Trump said he would meet Xi on the sidelines of the Asia-Pacific Economic Cooperation Summit in Seoul at the end of October, which would be the first face-to-face meeting for the leaders of the world’s two largest economies since Trump returned to office in January.
