Updates prices, adds context
HONG KONG, June 2(Reuters) - Chinese stocks listed in Hong Kong weakened to near a one-month low on Monday and offshore yuan slipped as renewed Sino-U.S. tariff tensions weighed on sentiment.
Concerns over U.S.-China trade tensions flared up again following a fresh spat over tariffs. China's Commerce Ministry rebuked U.S. President Donald Trump's accusations that Beijing had violated the consensus reached in Geneva talks, calling them "groundless," and vowed to take "forceful measures" to safeguard its legitimate rights and interests.
U.S. President Donald Trump and Chinese President Xi Jinping will speak soon to iron out trade issues including a dispute over critical minerals, Treasury Secretary Scott Bessent said over the weekend.
The Hang Seng China Enterprises Index .HSCE, which tracks mainland companies listed in Hong Kong, tumbled 2.6% to the lowest since May 6, while Hong Kong's benchmark Hang Seng Index .HSI slipped 2.2% to 22,778.45.
The offshore yuan traded at 7.2193 yuan per dollar CNH=, falling about 0.2% in Asian trading hours, while the Hong Kong dollar HKD=D3 continued to hover around weaker side of the 7.75-7.85 per dollar trading band.
Mainland markets are closed for Dragon Boat Festival and will resume trading on Tuesday.
The declines on Monday were across the board, with the Hang Seng Tech Index .HSTECH losing 2.4%, while property subindex .HSNP and healthcare sector .HSCIH both sliding more than 3%.
Among the biggest laggards, local property firm New World Development 0017.HK plunged 7.5% to a fresh two-month low after it deferred coupon payments.
Car makers continued the slide amid ongoing price war concerns. Shares of Li Auto 2015.HK tumbled 4.2%, while BYD 1211.HK and Nio 9866.HK lost more than 3%.
(Reporting by Jiaxing Li in Hong Kong; Editing by Janane Venkatraman and Rashmi Aich)
((jiaxing.li@thomsonreuters.com; +))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.