Hong Kong stocks trade sideways as Trump tariffs loom; Meituan, Sinopec top losers

Hong Kong stocks fluctuated between losses and gains on Monday, as caution prevailed ahead of US President Donald Trump’s next round of tariffs.

The Hang Seng Index rose 0.2 per cent to 23,584.56 as of 10.04am local time. The Hang Seng Tech Index added 0.2 per cent. On the mainland, the CSI 300 Index gained 0.3 per cent and the Shanghai Composite Index was up less than 0.1 per cent.

Zijing Mining Group, one of China’s top producers of gold, rose 5 per cent to HK$18.16 as bullion traded near a record high. Hansoh Pharma, China’s largest maker of psychotropic medication by sales, rose 4.5 per cent to HK$21.00 after reporting a 33 per cent jump in full-year profit last year.

Weighing on the gains were online delivery platform Meituan, which fell 4.3 per cent and Sinopec, China’s biggest oil refiner, which dropped 4.2 per cent. BYD, the world’s largest maker of electric vehicles, eased 0.7 per cent ahead of its earnings release later in the day.

One company debuted on Monday. Sidea Semiconductor Equipment Shenzhen, which designs and manufactures semiconductor-testing equipment, rose nearly 250 per cent to 181.93 yuan in Shenzhen.

Elsewhere in the Asia-Pacific region, Japan’s Nikkei was up less than 0.1 per cent, while Korea’s Kospi and Australia’s S&P ASX 200 both traded less than 0.1 per cent lower.