Hong Kong Leads An Asian Stock Market Slide

Hong Kong shares sank more than 1 percent in the morning session on Monday as profit-takers moved in after a six-day winning streak, while investors also took note of data showing mainland exports sank last month.

The Hang Seng Index fell 1.4 percent, to 26,299 by the break.

On the mainland, the Shanghai Composite Index lost 0.6 percent, to 2,539 while the

Shenzhen Composite Index shed 0.7 percent, to 1,304.

Tokyo was closed for a public holiday.

Sydney lost 0.1 percent. Singapore slipped 0.5 percent, Taipei shed 0.4 percent and Manila was down 0.9 percent while Jakarta lost 0.3 percent.

The losses follow a negative lead from Wall Street, where all three main indexes fell Friday, ending a healthy week that had been boosted by optimism China and the US are edging towards a trade deal, while the Federal Reserve indicated it could pause its interest rate hikes.

Trifecta Consultants analyst Sukrit Vijayakar said the "optimism surrounding the US-China trade talks faded", pointing out that while statements from both sides were positive, they were vague and "lacked concrete details".

On currency markets, the pound is holding up despite Prime Minister Theresa May's expected defeat in Tuesday's vote, with lawmakers across all parties against her Brexit deal. (AFP)

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