Equities in Hong Kong Under Slump to Begin New Month

2026-02-02 02:40 By Farida Husna 1 min. read

Hong Kong stocks tumbled 483 points, or 1.8%, to 26,906 on the first trading day of February, extending steep losses from the prior session and retreating from last week’s 4-1/2-year high.

Broad sector declines weighed on sentiment, compounded by a sharp drop in U.S.

futures after bitcoin’s weekend slide and Friday’s heavy sell-off in precious metals.

The backdrop was further clouded by a partial U.S.

government shutdown, pending House approval of a funding deal.

In China, shares weakened further after official PMI data signaled an unexpected contraction in factory activity amid subdued demand and cautious business confidence.

Automakers BYD Hong Kong and Geely Auto fell 2.2% and 2.0%, respectively, on weak January sales.

Metal and gold counters also retreated, including Zhojin Mining (-5.3%), Chow Tai Fook (-3.5%), Zijin Gold Intl.

(-2.3%), and Laopu Gold (-1.2%).

Bucking the trend, Minimax Group surged 12%, followed by Sands China (3.8%) and Pop Mart Intl.

(3.4%).



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