Hang Seng Index ends with across the board declines
Hang Seng Index ends with across the board declines
The Hang Seng Index ended the day down 131.80 points, or 0.57 percent, at 23,157.97. Photo: RTHK
Asian markets sank on Monday as investors brushed off data showing the US Federal Reserve's favoured inflation gauge cooled more than expected last month.
In Hong Kong, the Hang Seng Index ended the day down 131.80 points, or 0.57 percent, at 23,157.97.
The Hang Seng China Enterprises Index, which tracks mainland companies listed in Hong Kong, declined 0.9 percent to the lowest since May 6,
The declines were across the board, with the Hang Seng Tech Index losing 0.7 percent, property subindex declining 1.4 percent and healthcare sector sliding nearly 2 percent.
Among the biggest laggards, local property firm New World Development plunged 6.9 percent to near a two-month low after it deferred coupon payments.
Carmakers continued the slide amid ongoing price war concerns.
Shares of Li Auto and Nio both lost more than 2 percent, while BYD weakened 1.9 percent.
New World Development is in the middle of a loan refinancing drive as it looks to raise more than US$11 billion from banks.
Japan's Nikkei share average ended lower amid worries over Sino-US trade tensions and a stronger yen, which hurt automakers.
The Nikkei fell 1.3 percent to 37,470.67 and the broader Topix slipped 0.87 percent to 2777.29.
"Investors were worried about rising uncertainties about trade issues," said Shoichi Arisawa, general manager of investment research at IwaiCosmo Securities.
"Optimism over the tariff policy, which pushed the Nikkei over the psychologically important level of 38,000 last week, has vanished."
Sydney, Singapore, Taipei, Mumbai and Jakarta also fell along with London, Paris and Frankfurt.
Seoul and Manila were marginally higher, while Shanghai and Shenzhen were closed for a holiday. (AFP/Reuters)
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