(Updates prices, adds context)
HONG KONG, June 2(Reuters) - Chinese stocks listed in
Hong Kong weakened to near a one-month low on Monday and
offshore yuan slipped as renewed Sino-U.S. tariff tensions
weighed on sentiment.
Concerns over U.S.-China trade tensions flared up again
following a fresh spat over tariffs. China's Commerce Ministry
rebuked U.S. President Donald Trump's accusations that Beijing
had violated the consensus reached in Geneva talks, calling them
"groundless," and vowed to take "forceful measures" to safeguard
its legitimate rights and interests.
U.S. President Donald Trump and Chinese President Xi Jinping
will speak soon to iron out trade issues including a dispute
over critical minerals, Treasury Secretary Scott Bessent said
over the weekend.
The Hang Seng China Enterprises Index, which tracks
mainland companies listed in Hong Kong, tumbled 2.6% to the
lowest since May 6, while Hong Kong's benchmark Hang Seng Index
slipped 2.2% to 22,778.45.
The offshore yuan traded at 7.2193 yuan per dollar,
falling about 0.2% in Asian trading hours, while the Hong Kong
dollar continued to hover around weaker side of the
7.75-7.85 per dollar trading band.
Mainland markets are closed for Dragon Boat Festival and
will resume trading on Tuesday.
The declines on Monday were across the board, with the Hang
Seng Tech Index losing 2.4%, while property subindex
and healthcare sector both sliding more than
3%.
Among the biggest laggards, local property firm New World
Development ( NWWDF ) plunged 7.5% to a fresh two-month low
after it deferred coupon payments.
Car makers continued the slide amid ongoing price war
concerns. Shares of Li Auto ( LI ) tumbled 4.2%, while BYD
and Nio lost more than 3%.