Hong Kong Stocks Close in Red on Monday Amid Fears of China-EU Trade Rift Escalation

MT Newswires Live07-08

Hong Kong stocks closed in red on Monday facing three-month lows following risks of escalation in China-EU trade tensions. Beijing threatened to strike back against the additional tariffs imposed on Chinese EVs by the EU last week. The Chinese commerce ministry will hold an anti-dumping hearing about the Brandy imported from the EU, next week.

The Hang Seng Index fell by 1.55%, or 275.55 points, to close Monday's session at 17,524.06. The Hang Seng China Enterprises Index fell by 1.53%, or 97.54 points, to close at 6,284.73.

In corporate news, Antengene (HKG:6996) said its large B-cell lymphoma (rrDLBCL) selinexor was approved by China's National Medical Products Administration (NMPA) as a monotherapy for the treatment of adult patients, the company's shares fell 4% on Monday's close.

Liu Jiguo has resigned as First Tractor's (SHA:601038, HKG:0038) chairman and a director among other roles due to his age, a July 5 filing on the Hong Kong bourse said. The company's shares fell nearly 5% on Monday's close.

Seazen Group (HKG:1030) recorded contracted sales of approximately 3.8 billion yuan in June, with a contracted sales area of 525,300 square meters. The rental income for June, reached nearly 1 billion yuan from a total of 166 properties for lease, while commercial operating income stood at 1.07 billion yuan for the month. The company's shares fell over 6% on Monday's close.

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