HONG KONG, May 3 (Reuters) - Hong Kong stocks fell on Monday, due to profit-booking after a recent rally in subdued trading as the Chinese markets were closed for holidays, while rising COVID-19 cases in the region raised concerns of more measures and deeper economic pain.
The Hang Seng index closed down 367.34 points, or 1.28%, at 28,357.54, its lowest closing since March 29. The Hang Seng China Enterprises index fell 1.04% to 10,713.
After identifying a cluster of COVID-19 cases over the weekend, Singapore tightened social distancing controls.
The Hong Kong Monetary Authority, the key manager of Hong Kong's Exchange Fund, said slow vaccination take up in the city could hinder its competitiveness as a business centre.
The sub-index of the Hang Seng tracking energy shares dipped 0.1%, while IT, financials and property sectors ended 0.53%, 2.04% and 0.57% lower, respectively.
China's stock and bond markets, as well as its foreign exchange and commodity futures markets are closed on May 1-5 for the Labour Day holiday.
"Investors were not even interested in hunting for bargain when markets like Japan and China were on holiday," said Steven Leung, a sales director at UOB Kay Hian, adding, concern over further measures from China's regulators aiming at new economy stocks also kept investors away.
The top gainer on the Hang Seng was China Petroleum & Chemical Corp, up 1.29%, while the biggest loser was China Mengniu Dairy Co Ltd, dropping 3.49%.
Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.73%.
The top gainers among H-shares were Anhui Conch Cement Co Ltd up 1.94%, followed by Hansoh Pharmaceutical Group Company Ltd, gaining 1.49% and Postal Savings Bank of China Co Ltd, up by 1.38%.
The three biggest H-shares percentage decliners were China Mengniu Dairy Co Ltd, down 3.49%, China Feihe Ltd, falling 2.93% and Alibaba Health Information Technology Ltd, down 2.53%.
精彩评论