Hong Kong stocks fell Monday as a technology-led selloff gathered pace after stronger-than-expected U.S. jobs data and renewed military tensions between Israel and Iran weighed on sentiment.

The Hang Seng Index shed 1.2%, or 304.89 points, to close at 24,657.06, while the Hang Seng China Enterprises Index lost 1.1%, or 95.27 points, to finish at 8,341.36.

The robust U.S. jobs report prompted traders to increase bets on a Federal Reserve rate hike later this year, triggering a selloff in technology stocks.

Markets are now pricing in a 72% probability of a rate hike by December, according to CME Group's FedWatch tool.

Meanwhile, Israel and Iran exchanged strikes for the first time since their ceasefire took effect, raising fresh doubts about the durability of the truce.

The escalation came after U.S. President Donald Trump said Sunday that renewed military action by either side would not derail Washington's peace talks with Tehran.

Brent crude rose more than $4 a barrel on Monday, extending gains as renewed hostilities heightened concerns over regional stability.

Shanghai Junshi Biosciences (HKG:1877, SHA:688180) closed 3% lower after saying it will contribute intellectual property and pre-clinical oncology assets to a newly established joint venture, Shanghai OnTarget Biopharmaceuticals, in exchange for a 14.55% stake.