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Equities

Hong Kong stocks tumble, erasing this year's gains

Local currency trading at weakest level in at least 20 years

HONG KONG (Nikkei Markets) -- Hong Kong stocks tumbled on Monday, erasing all gains on the main index this year, as worries over trade tensions between the U.S. and China weighed on sentiment.

The benchmark Hang Seng Index slid 2.3% to 29,886.39, its steepest single-day percentage loss in more than three weeks. The gauge, which jumped nearly 10% in January, is now down 0.1% for 2018. All but one of its 50 constituents ended in the red on Monday, with Apple supplier Sunny Optical Technology Group rising 0.9% after the iPhone maker climbed in U.S. trading on Friday. 

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