(Updates to market close)
HONG KONG, Oct 6 (Reuters) – Hong Kong stocks slipped on Monday with some investors locking in gains from the market’s recent rally while others preferred to stay on the sidelines ahead of the one-day local Mid-Autumn Festival holiday on Tuesday.
** At the close, the Hong Kong benchmark Hang Seng Index was down 0.67%, the second session of decline.
** Shares of the Hang Seng Automobile Index led the decline, slipping 1.13%, with Li Auto falling 3.3%, Xpeng easing 1.8%, and Leapmotor declining 0.6%.
** Shares of key tech players fell 1.1%.
** Hong Kong-listed gold miners rose after the precious metal climbed to a record high with Shandong Gold Mining’s Hong Kong shares up as much as 7.2% to HK$40.4, their highest level since their debut in September 2018. They ended the day 5.3% higher.
** Stock of Zijin Gold, which debuted on September 30 in Hong Kong, soared as much as 9.5% to a fresh high of HK$148.9 and ended 8.2% higher; Zhaojin Mining rose 3.8% and Zijin Mining climbed 2.5%.
** Gold surged past the $3,900-an-ounce level, driven by safe-haven demand following a fall in the yen and a U.S. government shutdown, among others.
** Copper prices rose on Monday to the highest level in more than 16 months, due to concerns about supply from top producer Chile and major supplier Indonesia, sending MMG and Jiangxi Copper up 0.3% and 1.2% respectively.
** Mainland China markets are closed from October 1 to 8 for the Golden Week holiday.
** The benchmark Hang Seng Index hit 27,381.84 points on October 2, its highest since July 2021. It ended last week up 3.9%, its biggest weekly gain since early March. (Reporting by Donny Kwok; Editing by Harikrishnan Nair and Kate Mayberry)
