Hong Kong stocks fall as US shutdown dampens investor sentiment
The political stalemate in Washington has hurt risk appetite in equity markets and also complicated the outlook for US monetary policy
The Hang Seng Index closed 0.7 per cent lower at 26,957.77, trimming some of the 3.9 per cent gain recorded last week. The Hang Seng Tech Index lost 1.1 per cent.
There will be no trading in Hong Kong on Tuesday on account of a public holiday. Mainland stock exchanges are closed for the National Day and Mid-Autumn Festival holidays until Wednesday.
Electric-vehicle maker Li Auto slumped 3.3 per cent to HK$96.30, while peer BYD dropped 1.2 per cent to HK$108.10. E-commerce company Alibaba Group Holding fell 2.5 per cent to HK$180.50, while peer JD.com lost 2.1 per cent to HK$137.20. Short-video platform Kuaishou Technology declined 1.1 per cent to HK$87.70, while online travel-booking agency Trip.com lost 2.2 per cent to HK$562.
Gold miner Zijin Mining Group gained 2.5 per cent to HK$34.18, as the uncertainty around the US federal government shutdown boosted demand for bullion. Search-engine giant Baidu rose 0.7 per cent to HK$139.20, after Morgan Stanley raised the price target for its US-listed shares. Blind-box toymaker Pop Mart International added 0.6 per cent to HK$139.20.