Hong Kong stocks fall on Middle East fears while investors hope for stimulus clues
Hong Kong
stocks fell for the second straight day on Wednesday as Middle East geopolitical tensions weighed on markets, stoking fear of supply disruptions.
The Hang Seng Index declined 0.8 per cent to 23,776.80 as of 9.50am, adding to the 0.3 per cent loss recorded on Tuesday. The Hang Seng Tech Index retreated 1.3 per cent. On the mainland, the Shanghai Composite Index was little changed, and the CSI 300 Index slid 0.1 per cent.
Electric-vehicle maker Li Auto plunged 2.9 per cent to HK$105.40, while machine tool maker Techtronic Industries lost 0.8 per cent to HK$87.90. Short-video sharing platform Kuaishou Technology retreated 2 per cent to HK$58.20, and travel booking agency Trip.com slipped 0.9 per cent to HK$475.60.
Trimming the losses, Chow Tai Fook Jewellery Group added 2.2 per cent to HK$13, and hotpot chain Haidilao International Holding gained 2.7 per cent to HK$15.32.
The decline followed overnight losses in the US, where the S&P 500 fell 0.8 per cent and the Dow Jones lost 0.7 per cent, after Middle East hostilities dampened risk appetite.
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