Chinese equities listed in Hong Kong outperformed their Asian peers as gains in tech heavyweights countered the negative impact of a new US tariff on China.

Baidu, Li Auto and Galaxy Entertainment all lose more than 5 per cent, while gains by SMIC and Alibaba limit the benchmark’s fall.

Chinese stocks listed in Hong Kong will come under renewed pressure when they resume trading on Monday following a three-session break, after US President Donald Trump fired the first salvo of his tariff war.

Semiconductor Manufacturing International Corp (HK: 0981) (SMIC) shares surged 8.1% to HK$45.30 on Monday, while Meitu stock jumped 6%. Alibaba Group (HK: 9988) stock advanced 3.5%, while Tencent (HK: 0700) shares rose 3.1%. Kingsoft Cloud (HK: 3896) shares jumped 7.7%, while GDS Holdings (HK: 9698) stock surged 21.2%.

Investors gain confidence after US President Donald Trump strikes deals with Canada and Mexico and says he will speak with China.