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HK-listed Chinese shares near one-month low, offshore yuan weakens on tariff concerns
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HK-listed Chinese shares near one-month low, offshore yuan weakens on tariff concerns
Jun 1, 2025 10:15 PM

(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%.

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