2025.10.1308:18:16UTC+00Hang Seng Slips 1.5% at Finish

The Hang Seng Index fell by 401 points, or 1.5%, closing at 25,889 on Monday, marking its sixth consecutive session of declines as all sectors negatively impacted the index. Investor sentiment deteriorated further following President Trump's announcement of imposing 100% tariffs on Chinese exports and introducing new export controls on critical software starting November 1, in response to Beijing's restrictions on rare earth materials. Despite his subsequent comments suggesting that "trade relations with China will be fine," markets reached a one-month low, mirroring a withdrawal from the decade-high levels of mainland stocks. Some of the losses were mitigated by unexpectedly robust Chinese trade data, which indicated significant increases in both exports and imports for September, while U.S. futures rose in anticipation of upcoming earnings reports. Xiaomi saw a 6.1% decline, following the news of a fire involving its SU7 car, and China Vanke dropped 3.3% after the resignation of its chairman. Other companies experiencing downturns included HKEX with a 3.2% reduction, Meituan down by 2.4%, and Tencent also facing a 2.4% decrease. In contrast, Zijin Mining experienced a surge of 7.8% driven by record high gold prices and its acquisition of a mine in Kazakhstan.