The Hang Seng Index fell 0.7 per cent to 17,108.71 at the close, the lowest level since August 9. The Hang Seng Tech Index rose less than 0.1 per cent, and the Shanghai Composite Index retreated 0.8 per cent.
China Petroleum and Chemical, also known as Sinopec, led the pack of decliners after crude futures tumbled by more than 4 per cent overnight to an almost three-year low. Chinese sportswear maker Li Ning slid after Citigroup downgraded its recommendation on the stock. Biotech firm Wuxi AppTec and electric-vehicle (EV) maker BYD rallied on share buy-back and stake increase plans.
Crude oil futures have tumbled by almost a fifth this year on concern that demand from China and the US, the world’s biggest consumers, will slow down at a time when supply from Opec members remains sufficient.
“The big question…
