Analyst recaps Hong Kong stock market's performance on Monday

Hong Kong's Hang Seng Index fell over 1.5 percent on Monday, led by declines in tech and tariff-sensitive stocks, while gold miners surged on record bullion prices, according to a market analyst.

Hong Kong's stock market ended lower on Monday with the benchmark Hang Seng Index down 1.52 percent to close at 25,889.48 points.

The Hang Seng China Enterprises Index lost 1.45 percent to end at 9,222.54 points, and the Hang Seng Tech Index plummeted 1.82 percent to 6,145.51 points.

Wang Yin, a market analyst, recapped the Hong Kong stock market's performance on Monday.

"In Hong Kong, the Hang Seng Index was down more than 1.6 [1.5] percent. Stocks heavily affected by tariffs faced selling pressure, handsets and pharma stocks squeezed, and tech stocks broadly underperformed, with Tencent falling 2.15 percent, Meituan losing 2.36 percent and Kuaishou declining 4.11 percent. The Hang Seng tech index dived (about) 2 percent today," she said.

"Bucking the trend, Zijin Gold International jumped nearly 10 percent, snapping 3 consecutive sessions of decline, as Zijin Mining's unit Zijin Gold completed acquisition of 100 percent of Raygorodok Gold Mine project in Kazakhstan. Strength of bullion price supports gold miners as gold prices hit a record high on Monday, driven by safe-haven demand on fresh trade concerns, among others. So, Hong Kong-listed shares of Shandong Gold Mining rose 6.5 percent, and China Gold International added 2.93 percent," she said.

Analyst recaps Hong Kong stock market's performance on Monday

Year-end box office revenues in China are strong, with sales and pre-sales for screenings between Nov 28 and Dec 31 exceeding 4 billion yuan (about 570 million U.S. dollars) by 22:45 on Thursday, according to online platform data.

The strong performance in the year-end season has been driven by high-quality moviemaking and a broad selection of movies, with more than 50 films scheduled for release during the period, covering suspense, drama, action and science fiction.

Among domestic productions, war drama "Gezhi Town", which tells the little-known story of civilians in a remote mountain town in central China defending their home against Japanese aggression back in the late 1930s, has raked in over 330 million yuan (about 46.87 million U.S. dollars) at the box office, including previews and pre-sales.

Several other domestic titles, including suspense films "The Fire Raven" and "Escape from the Outland" as well as the fantasy time-travel adaptation "Back to the Past," are set to be released on Dec 31, offering audiences many different options for New Year's Eve.

On the imported film front, "Avatar: Fire and Ash," the third installment of the franchise which features new adventures and upgraded 3D visuals, will hit Chinese theaters on Dec 19.

Another import, "Zootopia 2," has already grossed over 3.6 billion yuan (about 511 million U.S. dollars) in China, surpassing its North American earnings and making China the film's top-grossing market worldwide.

China's year-end box office revenues surpass 4 billion yuan