HONG KONG: Hong Kong shares fell on Monday as global investors stepped back from sectors seen as over-valued, and as the possible blacklisting of China's largest chipmaker by the Trump administration weighed on tech names.
At the close of trade, the Hang Seng index was down 105.80 points or 0.43% at 24,589.65. The Hang Seng China Enterprises index fell 1.21% to 9,764.82. It was the fourth straight day of losses for the Hang Seng index. Hong Kong shares of China's largest chipmaker, SMIC, tumbled 22.88%.
The Trump administration is considering whether to add SMIC to a trade blacklist, a Defense Department official told Reuters, as the United States escalates its crackdown on Chinese companies.
The sub-index of the Hang Seng the IT sector dipped 3.22% as sentiment soured.
The top gainer on the Hang Seng was AIA Group Ltd, which gained 5.99%, while the biggest loser was WuXi Biologics (Cayman) Inc, which fell 3.56%.
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