US House of Representatives Speaker Nancy Pelosi with Taiwan President Tsai Ing-wen and American Institute in Taiwan director Sandra Oudkirk during a meeting at the presidential office in Taipei on August 3 2022. China has warned the US must bear "serious consequences" for her visit. File photo.
Image: Taiwan Presidential Office/Handout via REUTERS
China stocks flitted in tight range on Monday, with the energy sector being partially countered by losses in consumer shares as domestic Covid-19 outbreaks and tensions with the US kept market sentiment fragile.
The CSI300 index fell 0.2% to 4,148.74 points at the end of the morning session, while the Shanghai Composite Index gained 0.2% to 3,233.07 points.
The Hang Seng index dropped 0.8% to 20,050.15 points. The Hong Kong China Enterprises Index lost 1.1% to 6,826.77.
China's Hainan, an island province dependent on tourism, locked down more areas on Monday as it battles its worst Covid-19 outbreak after seeing very few cases over the past two years.
Stocks in tourism, transport, and consumer staples retreated, with China Tourism Group Duty Free Corp slumping about 5% after Sanya began closing duty-free malls on August 5.
Defence shares jumped more than 2%.
China's defence ministry on Monday defended its shelving of military talks with the US in protest against House Speaker Nancy Pelosi's visit to Taipei last week, warning Washington must bear "serious consequences".
Energy companies rose 2.4%, with coal miners up 3.3%.
China's export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy, but weakening global demand could start to drag on shipments in coming months.
China's property developers Greenland Holdings Corp said a unit has secured loans from state-owned shareholders, and the parent of Yango Group signed a debt relief agreement with a state-backed bad loan company.
Shares in Yango jumped 10% while Greenland gained 2.6%.
The Hong Kong government said on Monday it would shorten the Covid-19 hotel quarantine period for all arrivals to three days from seven.
Hong Kong stocks tracked other Asian markets lower, after a stunning US payrolls report bolstered the case for more super-sized rate increases.
The Hang Seng Tech Index dropped 1.7%.
