The Hang Seng Index declined 0.5%, or 130 points, to 25,283 on Tuesday, extending the previous session’s losses as sentiment remained weak amid concerns over rising oil prices and escalating geopolitical tensions. Investors worried that higher energy costs could stoke inflation and push back the timing of global interest-rate cuts. Technology stocks were among the main laggards, with Tencent (-0.5%), Xiaomi (-0.9%), and Meituan (-0.3%) all trading lower, while Hong Kong Exchanges and Clearing also slipped 0.4%. Caution intensified ahead of China’s August trade data, due later in the day.
Despite the broader market softness, Hong Kong’s IPO pipeline stayed active. Semiconductor and memory-chip maker Shenzhen Longsys Electronics made its debut on the Hong Kong Stock Exchange on Tuesday after raising about HK$7.1 billion in its initial public offering, underscoring sustained investor interest in China’s technology and semiconductor sectors.
