Hong Kong stocks slipped 35 points or 0.12% to 24,829 in Monday morning trade, extending losses for the second session, weighed mainly by tech and consumer shares. Caution prevailed ahead of Tuesday’s deadline for China to secure a lasting tariff deal with the Trump administration. Meanwhile, reports indicated Beijing is urging Washington to ease export controls on high-bandwidth memory (HBM) chips, crucial for AI, as part of the talks before a possible Trump–Xi summit later this year. Investors also awaited key U.S. inflation data this week. In China, producer prices fell for the 34th straight month in July, matching the steepest drop in two years, while stronger-than-expected CPI, aided by government subsidies for consumer goods, limited further declines. Notable early laggards included Akeso (-4.6%), Innovent Biologics (-3.0%), Hansoh Pharma (-2.5%), Trip.com (-3.1%), SMIC (-2.3%), and Kuaishou Tech (-1.3%).
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