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Hong Kong Stocks Extend Losses for Second Session

The Hang Seng Index fell 0.5%, or 130 points, to 25,283 on Tuesday, extending losses from the previous session as investor sentiment remained subdued amid concerns over rising oil prices and heightened geopolitical tensions. The decline came amid concerns that higher energy costs could fuel inflation and delay global interest-rate cuts. Technology stocks were among the major drags, with Tencent (-0.5%), Xiaomi (-0.9%) and Meituan (-0.3%) trading lower, while Hong Kong Exchanges and Clearing (-0.4%) also fell. Traders also grew cautious ahead of China’s August trade data due later today. Despite the broader weakness, Hong Kong’s IPO market remained active. Semiconductor and memory-chip maker Shenzhen Longsys Electronics began trading on the Hong Kong Stock Exchange on Tuesday, after raising about HK$7.1 billion in its IPO. The listing highlights continued investor interest in China’s technology and semiconductor sectors.

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