May 4, 2020

H shares started Monday’s trading session sharply lower with mainland firms listed in the city’s stock market plunging in the morning session, hinting at the start of a turbulent month for main-land stocks when the market reopens Wednesday after an unprecedented five-day May Day holiday.

Hong Kong-listed mainland securities and property firms plummeted shortly after the opening. As of 10:55am, the Hang Seng China Enterprises index, a benchmark that gauges the overall per-formance of mainland shares in the Hong Kong market, fell 4.11 percent, underperforming a 3.72 percent decline in the Hang Seng Index.

The Hong Kong benchmark shed 4.18 percent, or 1,029.79 points to close below 24,000 points on Monday, with the financial, oil and telecom stocks among the heaviest-hit.

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