The Hang Seng Index fell 132 points, or 0.6%, to close at 23,158 on Monday, marking its second consecutive decline amid sectoral losses. Renewed trade tensions between the US and China contributed to the downturn.
China rejected President Trump’s claims that it had violated a Geneva trade deal, calling them “groundless” and vowing forceful measures in response. The US also imposed a steel tariff hike of 50% starting Wednesday, causing futures to drop sharply. However, Treasury Secretary Bessent reassured investors that the US would not default on its debt.
Automakers continued to fall due to price war fears, with Li Auto down 2.2%, BYD at -2.0%, and Nio at -2.5%. Other major losers included Akeso Inc. (-10.4%), Longfor Group (-5.4%), and CSPC Pharma (-4.7%).
Source: https://www.tradingview.com/news/te_news:460822:0-hang-seng-trims-losses-at-finish