Hang Seng down 0.90% at 18,313 points (Il Sole 24 Ore Radiocor) - Hong Kong , 08 May - Hong Kong shares reversed earlier gains and closed lower, dropping for a second straight session and further retreating from a 10-day rally amid mixed Asian markets, with the Hang Seng index taking a breather from its longest winning streak since January 2018.

The benchmark index closed down 0.90% at 18,313 points after slipping 0.53% in the previous session, retreating from its highest level since September 5 as investors hunted for bargains after the recent rally.

The benchmark index posted a 7.5% gain in April, its strongest monthly performance since January 2023, making it the world's best-performing index last month as expectations of more policy support from Beijing and renewed optimism over China's economic recovery recently boosted investor sentiment.

Cation now prevailed as uncertainty over the timing of potential US interest rate cuts kept sentiment in check after mixed signals from US policymakers.

Traders now awaited the release of key China trade data tomorrow, expected to show more signs of recovery in the country's economy.

Today in Hong Kong stock market dealings technology shares were broadly lower, dropping for a second straight session after last week's rally.

The Hang Seng Tech index closed down 1.29%.

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(RADIOCOR) 08-05-24 11:29:50 (0304) 5 NNNN