Hong Kong stocks tick down in thin trade as property, financials drag

Business Recorder reported that Hong Kong shares edged lower in light midday trade on Monday, as sellers targeted property developers and large financial firms. The benchmark Hang Seng slipped 0.08%, while the Hang Seng China Enterprises Index was unchanged. Real estate companies fell 0.9% and a finance subindex covering big banks and insurers lost 0.7%.

Hang Seng Tech gained 0.3%, with semiconductor and circuit board makers leading the advance. Kingboard Laminates rose 9% and Hua Hong Grace Semiconductor climbed 4%. Onshore markets in mainland China stay shut from October 1 to October 7 for National Day, reopening on October 8.

Citi analysts described Golden Week activity as underwhelming based on early data, saying spending per traveller likely softened even though visitor numbers held steady. Budweiser Brewing Company APAC slid 2.1% to HK$5.555, its lowest level since its September 2019 listing, after it said it expects a $52 million withholding tax charge linked to an internal restructuring of some mainland subsidiaries.