Hong Kong stocks trade sideways as investors focus on economic data, earnings

The Hang Seng Index fell 0.1 per cent to 24,891.37 as of 10.09am local time. The Hang Seng Tech Index dropped 0.4 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index gained at least 0.3 per cent.

Kuaishou Technology dropped 2.5 per cent to HK$76.75 and Alibaba Group Holding fell 1.4 per cent to HK$116.90. Tencent Holdings retreated 0.3 per cent to HK$559.50 before its interim report on Wednesday.

Market sentiment will be tested, as some of the Hang Seng Index constituents release earnings this week. China’s statistics bureau will disclose the July economic data on Friday, offering fresh clues on how the world’s second-largest economy fared after first-half growth topped estimates.

Investors took the tariff-extension news in their stride, as the outcome was in line with expectations. US President Donald Trump on Monday signed an executive order extending the tariff truce with China by 90 days until November 10, while China also made a similar statement.

Elsewhere in Asia-Pacific, Japan’s Nikkei 225 jumped 2.5 per cent, South Korea’s Kospi rose 0.8 per cent and Australia’s S&P/ASX 200 added 0.1 per cent.