Hong Kong Stocks Retreat

The Hang Seng Index fell about 0.9%, or 226 points, to open at 25,428 on Monday, retreating from a two-week high in the previous session, weighed down by declines in the financials, technology, and energy minerals sectors. Investors also turned cautious following stronger-than-expected US jobs data, which boosted expectations for a Federal Reserve rate hike this month. Meanwhile, China’s August trade balance is due later this week, with the trade surplus expected to rise to $120.1 billion from $101.1 billion a year earlier and $112.5 billion in July, offering fresh clues on external demand and the strength of the broader Chinese economy. Xiaomi shares fell 3.9%, despite remaining in focus after raising prices on some smartphone models and continuing its Class B share repurchases. Tencent (-0.5%), Lenovo (-1.9%), Meituan (1.8%), and AIA Group (-0.3%) were among the notable losers. On the upside, MiniMax (6.9%), Kingboard Laminates (5.7%), and Semiconductor Manufacturing (1.2%) gained.






