China, Hong Kong stocks fall ahead of May manufacturing data

China and Hong Kong stocks fell on Tuesday as investor sentiment remained bearish ahead of China's May manufacturing data. CRRC Corp Ltd, the rolling stock manufacturer giant, rose as much as 10%. ** Tech stocks traded in Hong Kong lost 0.7%, with Meituan and Tencent down 2.4% and 1.0%, respectively, dragging the Hang Seng Index down.

China and Hong Kong stocks fell on Tuesday as investor sentiment remained bearish ahead of China's May manufacturing data. ** China's blue-chip CSI300 Index dropped 0.8% by the lunch break, while the Shanghai Composite Index lost 0.7%.

** Hong Kong's benchmark Hang Seng Index and the China Enterprises Index were both down 1.0%. ** China's factory activity likely contracted further in May, a Reuters poll showed on Monday, adding to pressures facing the world's second-biggest economy amid an uneven economic recovery from the COVID-19 pandemic. The official manufacturing Purchasing Managers' Index (PMI) will be released on Wednesday.

** "Sentiment around China continues to be bearish ahead of May's manufacturing PMI due on Wednesday," UBS analysts wrote in a note. ** Meanwhile, tensions between the world's two largest economies continued. China has declined a request by the United States for a meeting between their defense chiefs at an annual security forum in Singapore this weekend, media reported on Monday, a new sign of strain between the powers.

** Shares of some artificial intelligence companies soared on the brain-computer interface concept, with Innovative Medical Management Co Ltd and Jiangsu Apon Medical Technology Co Ltd surging 10.0% and 20.0%, respectively. ** Stocks of state-owned enterprises (SOEs) regained popularity among investors. CRRC Corp Ltd, the rolling stock manufacturer giant, rose as much as 10%.

** Tech stocks traded in Hong Kong lost 0.7%, with Meituan and Tencent down 2.4% and 1.0%, respectively, dragging the Hang Seng Index down.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)