Hong Kong stocks, A-shares open lower, tech firms mostly trading down

 

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Hong Kong stocks open lower on Monday, with the benchmark Hang Seng Index down 1.01%, the Hang Seng China Enterprises Index down 1.19% and the Hang Seng Tech Index down 1.4%.

Technology heavyweights are mostly lower, with Meituan, Xiaomi, Kuaishou falling by about 2%, Alibaba, JD.com and Baidu down more than 1%, while NetEase up 1.5%. Gas distributors, PV glass companies, home appliance makers, internet healthcare companies, insurance companies, automakers and catering companies are trading lower.

Biotech companies, shipping companies, mainland developers and property management companies are trading higher.

Chinese A-shares open lower, with the benchmark Shanghai Composite Index down 0.26%, the Shenzhen Component Index down 0.3% and the tech-heavy Chinext Price Index down 14%.

Semiconductor companies, wind power companies, auto parts suppliers are retreating, while agriculture companies, electric power companies, coal miners and farming companies are outperforming.