Mainland China and Hong Kong stocks slammed lower at open

At Monday open:

• Shanghai Composite down 2.49%
• Shenzhen component down 3.86%
• ChiNext down 4.44%

Hong Kong stocks open lower:

• Hang Seng down 2.5%,
• tech index down 2.43%.

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This in relation to renewed tensions with Trump.

Late Friday:

• Trump announces a 100% tariff on China in addition to current tariffs, but not immediately

China responds over the weekend:

• China: Rare earth export control measures are 'legitimate', blames US for rising tension

Some TACO moves already, some murmurings of Trump already backing off. BRB with more on this:

• Taco time: Crypto jumps as Vance says Trump willing to be reasonable negotiator

Latest:

• Pentagon to buy $1bn in critical minerals to cut China reliance
• Trump says he thinks we are going to be fine with China, Nov 1 tariffs still the plan

• 6.30am in Beijing. Traders might exercise caution, await China's response to Trump's cave

• Goldman sees US–China tariff standoff easing into prolonged pause, not full escalation