Hong Kong shares extended losses on Monday, with the benchmark index slipping below the 27,000 level, as heavy selling in technology and gold stocks weighed on the market.
The Hang Seng Index closed down 611 points, or 2.23 percent, at 26,775. The index has fallen for two consecutive days, shedding a combined 4.26 percent. Turnover rose 15.3 percent from the previous session to HK$347.8 billion.
The China Enterprises Index fell 2.54 percent to 9,080, while the tech Index dropped 3.36 percent to 5,526.
Major technology stocks were broadly weaker. Alibaba (9988) slid 3.49 percent, Tencent (0700) fell 1.24 percent, Meituan (3690) dropped 2.42 percent, Xiaomi (1810) lost 1.24 percent, Baidu (9888) declined 3.99 percent, Kuaishou Technology (1024) fell 3.93 percent, JD.com (9618) eased 1.69 percent, and NetEase (9999) slid 3.46 percent.
Auto stocks were among the worst performers. BYD (1211) slumped 6.91 percent to HK$91, making it the biggest decliner among blue-chip stocks.
Gold miners came under heavy pressure after international gold prices retreated. China Gold International Resources (2099) tumbled 7.94 percent, Lingbao Gold (3330) fell 8.7 percent, Zijin Mining (2899) slid 5.58 percent, Shandong Gold Mining (1787) plunged 12.56 percent, and Chifeng Jilong Gold Mining (6693) dropped 12.18 percent.
In mainland China, shares also fell, with the Shanghai Composite Index closing down 2.48 percent at 4,015, its lowest level in more than a month, and the Shenzhen Component Index falling 2.69 percent to 13,824.
