Chinese stocks and the yuan slumped as fears of worsening Sino-American tensions further undermined investor confidence after a slew of disappointing economic developments.

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

China announces 6 trillion yuan ($840 billion) stimulus plan to ease local debt and boost growth amid global uncertainties and potential trade tensions.

China's disappointing stimulus has dampened hopes for a significant recovery in the country's struggling property sector, a key driver of metal demand for the world's largest importer.

Regional markets took middling cues from a mildly positive overnight close on Wall Street, with U.S. stock benchmarks rising slightly to record highs. U.S. stock index futures were flat in Asian trade, as investors speculated over just what a Trump victory will entail for economic policy.

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,

Most Asian markets fell Monday after China's keenly awaited plans to support the world's number two economy fell short of expectations, while traders were also keeping tabs on Washington as

Asian stocks fell on Monday, led by a more than 2% drop in Hong Kong’s Hang Seng index, as China's stimulus package disappointed investor expectations. China on Friday approved a 6 trillion yuan ($839 billion) plan during a national legislature meeting.