Shares in Hong Kong fell 107 points or 0.5% to 23,804 in early trade Monday, extending losses for the third session amid lingering tariff uncertainty as several countries continue trade talks with the U.S. Meanwhile, U.S. futures dropped sharply, despite Trump clarifying that the tariffs would take effect on August 1 - not July 9 as previously feared. In China, June CPI and PPI data will be released later this week, after consumer prices dropped for the fourth straight month in May and producer prices posted the steepest drop in nearly two years, deepening deflation concerns. Further losses were offset by hopes over potential stimulus measures at China’s upcoming Politburo meeting. Consumer stocks led the declines after Beijing imposed five-year tariffs of up to 34.9% on European brandy, escalating tensions with U.S. allies. Financials and tech also slipped. Meituan (-3.2%), China Hongqiao (-3.0%), Horizon Robotics (-2.6%), and Innovent Biologics (-2.3%) were among the top laggards.