Alibaba Falls 5%, Nio Sheds 3%: What's Weighing On Hong Kong Stocks Today

On Monday, shares of Chinese businesses with U.S. listings were trading down in Hong Kong,

prominent tech equities like Alibaba Group Holdings leading the decline

Do you need a safe stock to keep your $1,000 in? Now available is our Chief Market Strategist's most recent recommendation

The possible ROI on this investment is 70% within two years.

At the time of publication, the benchmark Hang Seng Index traded 2.52% lower, taking cues from its Asian counterparts.

Shanghai's first case of a novel Omicron subvariant was detected there, according to health officials on Sunday.

This prompted additional rounds of mass testing and focused lockdowns.

Technology behemoths Alibaba and Tencent, along with other businesses, were fined by China's State Administration for Market Regulation (SAMR) on Sunday for breaking anti-monopoly regulations regarding the disclosure of transactions.

China-based electric vehicle manufacturer Nio gave a glimpse into its future development plans for charging and battery technologies during its second annual Power Day event.