Hong Kong shares dip to three-week low as tariff concerns flare again
Hong Kong stocks
weakened to a three-week low in early trade on Monday as renewed
Sino-U.S. tariff tensions
weighed on sentiment.
The city's benchmark
Hang Seng Index
slipped 2.4% to 22,734.05, the lowest level since May 8, while
Hang Seng China Enterprises Index
tracking mainland companies tumbled 2.7%.
Concerns over Sino-U.S.
trade tensions
flared up again on Monday following a fresh spat over tariffs.
China's Commerce Ministry
rebuked U.S. President Donald Trump's accusations that Beijing had violated the consensus reached in Geneva talks, calling them "groundless," and vowed to take "forceful measures" to safeguard its legitimate rights and interests.
The declines were across the board, with the Hang Seng Tech Index, property subindex and healthcare sector all sliding more than 3%.
Among the biggest laggards, local property firm
New World Development
plunged more than 10% to a fresh two-month low after it deferred coupon payments.
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