The Hang Seng Index opened Monday down about 0.9%, or 226 points, at 25,428, pulling back from a two-week high in the previous session. The decline was driven largely by weakness in the financials, technology, and energy minerals sectors. Sentiment was further pressured as stronger-than-expected US jobs data reinforced expectations of a Federal Reserve rate hike this month, prompting investors to turn more cautious.
Looking ahead, markets are focused on China’s August trade data, due later this week. The country’s trade surplus is forecast to widen to $120.1 billion, up from $101.1 billion a year earlier and $112.5 billion in July, which could offer fresh insight into external demand and the underlying strength of the broader Chinese economy.
Among individual stocks, Xiaomi dropped 3.9%, despite remaining in the spotlight after raising prices on certain smartphone models and continuing its repurchases of Class B shares. Other notable decliners included Tencent (-0.5%), Lenovo (-1.9%), Meituan (-1.8%), and AIA Group (-0.3%).
On the upside, MiniMax advanced 6.9%, Kingboard Laminates gained 5.7%, and Semiconductor Manufacturing rose 1.2%.
