Hong Kong stocks cap monthly loss as fundamentals weigh after Xi-Trump summit
Benchmark posts its first monthly loss since April as a weak manufacturing reading underscores a deflationary trend in mainland China
The Hang Seng Index fell 1.4 per cent to 25,906.65 at the close, taking the monthly decline to 3.5 per cent. The Hang Seng Tech Index dropped 2.4 per cent.
On the mainland, the CSI 300 Index slid 1.5 per cent, finishing October barely changed, and the Shanghai Composite Index retreated 0.8 per cent to notch up a 1.9 per cent gain for the month.
Chinese electric-vehicle maker BYD sank 3.5 per cent to HK$100.60 after third-quarter profits fell 32 per cent from a year ago on slowing sales hurt by a price war. Chipmaker Semiconductor Manufacturing International Corp slumped 5.3 per cent to HK$75. Alibaba Group Holding retreated 4.1 per cent to HK$165.10 and Tencent Holdings lost 4.3 per cent to HK$629.
