Hong Kong Stocks Fall as Oil Prices Climb; MiniMax Slips on New AI Model Launch

MT Newswires Live16:38

Hong Kong stocks closed lower Tuesday as rising oil prices and geopolitical tensions weighed on sentiment.

The Hang Seng Index fell 319.09 points, or 1.3%, to close at 23,867.74, while the Hang Seng China Enterprises Index lost 97.99 points, or 1.2%, to 8,030.26.

Oil prices resumed their climb amid uncertainty over U.S. President Donald Trump's move to ease sanctions and tariffs on Russian energy.

Investors awaited earnings from major technology companies, including Meta Platforms and Tesla, for clues on whether heavy AI spending can generate sufficient returns.

Geopolitical risks remained in focus amid unrest in France and a deadly Houthi attack in Yemen.

Meanwhile, Federal Reserve officials signaled little urgency to raise interest rates further despite persistent energy-driven inflationary pressures.

In corporate news, MiniMax (HKG:0100) closed 6% lower after launching an AI model designed for software development, office work, and cybersecurity, with faster performance at lower cost.

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