Hong Kong stocks edge lower on US-Iran stand-off, oil supply fears
Hong Kong stocks slip as investors stayed cautious over global energy supply risks and regional stability
Hong Kong stocks fell on Monday as tensions between the US and Iran showed no sign of easing quickly, keeping investors cautious about potential disruptions to global energy supplies and regional stability.
The Hang Seng Index slipped 0.1 per cent to 25,436.27 at the market open, extending a 1 per cent loss recorded from Friday. The Hang Seng Tech Index gained 0.2 per cent. On the mainland, both the CSI 300 Index and the Shanghai Composite Index were little changed.
Gold miner Zijin Mining dropped 2.2 per cent to HK$37.42 and oil and gas producer CNOOC declined 0.4 per cent to HK$29.64. Search-engine leader Baidu lost 0.6 per cent to HK$121.50 and home-grown chipmaker Semiconductor Manufacturing International Corporation slid 0.6 per cent to HK$61.85.
Limiting losses, e-commerce giant JD.com added 1.3 per cent to HK$111 and food-delivery service provider Meituan rose 1.3 per cent to HK$76.90. Online travel-booking agency Trip.com advanced 0.7 per cent to HK$404.40, and WeChat operator Tencent Holdings gained 0.6 per cent to HK$551.
US President Donald Trump said on Sunday that Washington had asked other countries to help safeguard the Strait of Hormuz and had been in discussions with several nations about policing the key energy shipping lane.
Trump added that the United States had been in contact with Iran but questioned whether Tehran was ready to engage in serious negotiations to end the conflict.
Meridiano
