Hong Kong stocks dropped on Tuesday amid concerns that military conflicts in the Middle East could increase the global inflationary risk by straining oil supply.
The Hang Seng Index fell 0.3 per cent to 23,980.30 at the close. The Hang Seng Tech Index slipped 0.2 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index were both little changed.
Chow Tai Fook Jewellery Group tumbled 7.3 per cent to HK$12.72 on a plan to raise HK$7.85 billion (US$1 billion) in one of the city’s biggest convertible bond sales this year. PetroChina lost 4.5 per cent to HK$7.05 as the stock traded ex-dividend. Chinese electric-vehicle maker BYD slipped 0.6 per cent to HK$129, and peer Li Auto lost 2.3 per cent to HK$108.60.
US President Donald Trump called for the evacuation of Tehran in a social-media post and cut short his stay at the Group of Seven leaders’ summit in Canada, fanning speculation that Israel may launch a new round…
