Hong Kong's Hang Seng Index closed 1.45% lower at 20426.93 on Monday. The lack of clarity on Trump's next steps as U.S. president, and the lackluster fiscal plans by China means economic risks could persist,

Sentiment suffers with prospect of tariffs, slower global growth, rising inflation and potentially fewer Fed rate cuts, say Nomura analysts.

Chinese stocks in Hong Kong declined after a high-profile legislative meeting let down some investors who had been hoping for large-scale stimulus to revive domestic demand and combat deflation. The Hang Seng China Enterprises Index lost as much as 2.

Hong Kong shares ended lower, with the Hang Seng Index dropping 1.1% to 20728.19. Investors were eyeing expected announcements from Chinese officials that are anticipated to include more stimulus for the Chinese economy.

Hang Seng index down 1.5% after Beijing unveils $1.4tn plan to restructure local government debt but no consumer support