Update | Hang Seng Index, mainland China stocks lower amid concerns over tighter liquidity
Hang Seng Index sheds 0.07pc to 23,331 but energy stocks hit harder as price of oil declines, with Sinopec, CNOOC and PetroChina all trading down
Hong Kong’s benchmark Hang Seng Index and mainland China stocks closed moderately lower on Tuesday as the Chinese central bank maintained its tighter liquidity stance and investors remained cautious amid global uncertainties.
The Hang Seng Index edged down 0.07 per cent or 16 points to 23,331 while the Hang Seng China Enterprises index gained 0.06 per cent or 5.8 points to 9,846.06.
Energy stocks largely retreated after oil prices declined in US trading overnight. Sinopec was down 1.61 per cent to close at HK$ 6.08 while PetroChina dropped 0.33 per cent to HK$6.05. CNOOC closed 0.51 per cent lower to HK$9.65.
Among the gainers, China Unicom surged 2.6 per cent to HK$9.45, but it was outpaced by AAC Technologies which rose 3.45 per cent to close at HK$82.45.
Mainland Chinese shares slipped after the People’s Bank of China said it would skip open market operations to inject cash into the banking system for a third trading day, citing high overall liquidity.
The Shanghai Composite Index shed 0.12 per cent to finish at 3,153.09 while the blue-chip CSI 300 dropped 0.22 per cent or 7.52 points to 3,365.68.
The Shenzhen Component Index edged down 0.23 per cent or 23.17 points to 10,055.56 and the Nasdaq-style ChiNext fell 0.60 per cent or 11.31 points to 1,889.13.