Hong Kong stocks, A-shares open lower Tue amid growing geopolitical tensions, defence stocks outperform, property developers slide
STOCKS
Hong Kong stocks, A-shares open lower Tue amid growing geopolitical tensions, defence stocks outperform, property developers slide
STOCKS

Hong Kong stocks, A-shares open lower Tue amid growing geopolitical tensions, defence stocks outperform, property developers slide

 

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Hong Kong stocks open lower on Tuesday amid intensifying geopolitical tensions. The Hang Seng Index opens down 1.1% to drop below 20,000 mark, the Hang Seng China Enterprises Index down 1.37%, the Hang Seng Tech Index down 1.9%.

Technology heavyweights are lower, across the board, with Baidu sliding more than 3%, Xiaomi, Meituan and Kuaishou down nearly 3%. Automakers are falling after a strong rally one day earlier. Mainland property developers and property management companies remained led the losses as latest data showed persistent weakness in the housing market.

Catering companies, internet healthcare companies, oil companies and mobile phone component suppliers are trading lower, while defence stocks and drugmakers are mostly higher.

Chinese A-share open lower, with the benchmark Shanghai Composite Index down 0.88% at 3,231, the Shenzhen Component Index down 1.24% at 12,260, and the tech-heavy Chinext Price Index down 1.5% at 2,692.

Solar power companies, lithium battery companies and automakers are leading the losses, while defence stocks are rallying amid growing geopolitical tensions.