Hong Kong Stocks Open Lower as Oil, Inflation Concerns Weigh

MT Newswires Live
Yesterday

Hong Kong stocks opened lower on Tuesday as rising oil prices and persistent inflation concerns weighed on investor sentiment ahead of key U.S. economic data and corporate earnings.

The Hang Seng Index fell 0.4%, or 99.11 points, to open at 24,172.09, while the Hang Seng China Enterprises Index dropped 0.4%, or 32.16 points, to 8,136.41.

U.S. stocks were mixed on Monday, with the Dow Jones Industrial Average rising 0.3%, while the S&P 500 fell 0.2% and the Nasdaq Composite declined 0.5%, as higher oil prices and uncertainty over the interest-rate outlook weighed on sentiment.

Oil prices climbed, with Brent crude up 1.7% to $106.52 a barrel and U.S. crude up 1.9% to $93.55, as attacks on Saudi Arabia heightened concerns about energy supplies.

Investors are awaiting U.S. consumer inflation data and quarterly earnings from major banks this week.

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