Hong Kong shares reverse gains, end lower as tech stocks slide

Hong Kong stocks reversed earlier gains to end lower on Monday, as losses in heavyweight technology shares dragged them down.

The benchmark Hang Seng Index fell 183 points, or 0.71 percent, to close at 25,635, after turning negative in the afternoon session. Market turnover jumped 142.65 percent from the previous day to HK$224.5 billion.

The China Enterprises Index slipped 0.26 percent to 8,891, while the Hang Seng Tech Index edged down 0.3 percent.

Technology stocks weighed on the market. Alibaba (9988) dropped 1.85 percent, Tencent (0700) fell 1.08 percent, Xiaomi (1810) slid 1.63 percent and JD.com (9618) lost 0.71 percent. Meituan (3690) bucked the trend, rising 0.97 percent, while NetEase (9999) gained 1.41 percent. Baidu (9888) eased 0.33 percent and Kuaishou Technology (1024) declined 1.24 percent.