Shares of other Hong Kong-listed Chinese tech firms also declined: Tencent fell 4.77% while Meituan slipped 5.52%. China’s largest chipmaker SMIC also saw its stock in Hong Kong drop 4.41%. The broader Hang Seng Tech index shed 3.93%.
Stocks in Asia were mixed on Monday as the final trading week of 2020 kicked off. In Japan, the Nikkei 225 gained 0.74% to close at 26,854.03 while the Topix index advanced 0.54% to finish its trading day at 1,788.04. South Korea’s Kospi closed fractionally higher at 2,808.60. Mainland Chinese stocks were mixed: the Shanghai composite dipped slightly while the Shenzhen component gained 0.137%. Hong Kong’s Hang Seng index declined 0.19%.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.21%. Profits at Chinese industrial firms in November rose 15.5% as compared with a year earlier, according to data released by the country’s National Bureau of Statistics over the weekend. Markets in Australia and New Zealand are closed on Monday for a holiday. In coronavirus developments, U.S. President Donald Trump signed a Covid relief and government funding bill days after he suggested he would block it.