Hong Kong stocks on Monday edged lower, as China’s imports for August fell unexpectedly, while exports slightly exceeded expectations.
The Nikkei 225 in Tokyo regained 36.43 points, or 0.2%, to close at 15,705.11, while the yen slightly dropped versus the U.S. dollar to ¥105.134 from ¥105.100 in the previous session.
The Hang Seng Index in Hong Kong dropped 49.30 points, or 0.2%, to 25,190.45, with its top components — HSBC Holdings PLC and Tencent Holdings Ltd. — as a drag. HSBC was off 0.8%, and Tencent declined 1.6%.
Official data showed Monday that China’s imports dropped by 2.4% on-year last month, against an estimated 2.7% rise from a poll of economists by The Wall Street Journal. Meanwhile, exports grew 9.4% year-over-over, above a forecast 9.2% increase by the economists.
More broadly, tech stocks were weaker, as software developer Kingdee International Software Group gave up 1.5%, online-transaction service provider China Binary sale Technology Ltd. pulled back 1.3%, and online game developers Forgame Holdings Ltd. and NetDragon Websoft, Inc both moved lower by 0.6%.
However, China Mobile Ltd. the country’s largest wireless carrier, advanced 1.1%, with investors awaiting the upcoming launch of iPhone 6 by Apple Inc. on Tuesday in the U.S.
Smaller rival China Telecom Corp. Ltd popped up 2.8%, while another competitor China Unicom (Hong Kong) Ltd. dipped 0.1%.
Meanwhile, Hong Kong’s local lender Bank of East of Asia Ltd. picked up 0.2%, after it said Japanese bank Sumitomo Mitsui Banking Corp. planned to increase its stake to 17.5% from 9.6%.
In other markets;
Markets in Shanghai, Taiwan and Korea were closed for holiday
In Singapore, the Straits Times STI Index fell 6.54 points, or 0.2%, to 3,335.19
In New Zealand, the NZX 50 improved 7.88 points, or 0.2%, to 5,261.75
Australia’s S&P/ASX 200 subtracted 21.72 points, or 0.4%, to 5,576.97
