Hong Kong Stocks Edge Lower on Middle East Uncertainty; Chaozhou Three-Circle Surges

MT Newswires Live07-21 16:45

Hong Kong stocks closed slightly lower Tuesday as investors remained cautious over developments in the Middle East and awaited Hong Kong's inflation data due later in the day.

The Hang Seng Index slipped 10.76 points to 25,132.29, while the Hang Seng China Enterprises Index fell 21.22 points, or 0.3%, to 8,360.68.

Investor sentiment stayed subdued as markets monitored the conflict in the Middle East. Despite a pullback in oil prices, concerns that the conflict could disrupt energy supplies and fuel inflation kept investors cautious.

Wall Street ended lower overnight as investors tracked the U.S.-Iran conflict and looked ahead to earnings from major technology companies.

Among individual stocks, Chaozhou Three-Circle (HKG:6951, SHE:300408) jumped nearly 12% after forecasting up to a 65% increase in first-half attributable profit.

ASMPT (HKG:0522) rose more than 7% after appointing Bassel Haddad as group chief executive officer and executive director, effective Aug. 11.

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