Hong Kong shares slipped 86 points or 0.3% to 25,534 in Tuesday morning trade, reversing part of a more than 2% rally in the previous session as investors booked profits.
Meanwhile, U.S. futures fell slightly after Wall Street remained shut for a holiday on Monday.
Still, further losses were limited by stronger-than-expected August manufacturing PMI data from a private survey in China, signaling improving factory activity following an extended trade truce with the U.S. Adding to market focus, President Xi Jinping announced Monday plans to accelerate the creation of a development bank and establish an international energy cooperation platform, unveiled at a summit alongside Russia and India that highlighted Beijing’s growing challenge to U.S. global leadership.
Sector performance was broadly negative, led by technology, consumer, and property stocks.
Among notable decliners were China Unicom (-4.7%), SMIC (-2.8%), Techtronic Industries (-2.4%), and Meituan (-1.7%).
