As of 10 a.m. local time, the Hang Seng Index was down 0.2% to 16,182.02, trading near its lowest level in 14 months. The tech index was little changed, and the Shanghai Composite Index rose 0.2%.
Alibaba fell 0.5% to HK$69.65, peer JD.com fell 1% to HK$95.70 and Tencent fell 0.8% to HK$287.20. HSBC Holdings fell 2.2% to HK$59.60. Sportswear maker Li Ning fell 0.8% to HK$17.70, while rival Anta fell 0.7% to HK$73.60.
Sentiment remains cautious as investors expect Wednesday’s final batch of major economic data for 2023 to paint a mixed picture. China’s gross domestic product likely grew 5.2% last year, in line with Beijing’s target, according to economist estimates compiled by Bloomberg. Industrial production is expected to increase by 6.7% in December, compared with 6.6% in November, and retail sales are expected to increase by 8% in December, compared with 10% in the previous month.
Elsewhere, Beilong Precision Technology soared 184% on its first day of trading in Shenzhen, to 61.06 yuan per share.
Other major Asian markets were mixed. Japan’s Nikkei Stock Average rose 0.9%, while South Korea’s Kospi and Australia’s S&P/Australian Stock Exchange 200 index were little changed.