Hong Kong shares fell 282 points or 1.1% to 25,277 in early trade Tuesday, pulling back from Monday’s gains as all sectors were in the red. Investors reacted to weak June trade data in the city, with both export and import growth moderating due to softening global and domestic demand as trade risks mounted. Some traders took profits after the Hang Seng revisited near four-year highs amid a muted close on Wall Street overnight. Sentiment was further weighed by caution ahead of key U.S. events this week, including the Fed’s rate decision and inflation readings. In China, July PMI data from officials is expected in the coming days, along with a private sector survey. Further losses were capped by hopes that U.S.-China trade talks in Stockholm could lead to a 90-day extension of the tariff truce and set the stage for a potential meeting between President Trump and Xi Jinping later this year. Decliners included ZTO Express (-3.9%), KE Holdings (-3.6%), and Xiaomi Corp. (-2.4%).