Hong Kong stocks closed lower on Tuesday, dragged down by steep losses in tech heavyweights and continued pressure on insurers and banks following Beijing's multibillion-yuan capital injection plan, though gains in mining and oil majors cushioned the downside.
The benchmark Hang Seng Index fell 95 points, or 0.38 percent, to 25,317 points, delivering a full-day market turnover of HK$206 billion.
The tech-focused Hang Seng Tech Index dropped 1.61 percent to 4,454 points.
Tech heavyweights Lenovo (0992) and BYD Electronics (0285) dropped 6.18 percent and 5 percent, respectively, ranking as the worst-performing blue chips. Kuaishou (1024), Xiaomi (1810), and Baidu (9888) each fell by around 2 percent. Tencent (0700) and Alibaba (9988) slipped 0.68 percent and 0.09 percent, respectively.
Chip makers also came under pressure. Semiconductor Manufacturing International Corporation (0981) and Hua Hong Grace Semiconductor (1347) declined 4.32 percent and 3.56 percent, respectively.
Mining company CMOC (3993) jumped 7.57 percent as the best-performing blue chip. Zijing Mining (2899) also rose 2.9 percent.
Oil majors also advanced notably, with Sinopec (0386), CNOOC (0857), and PetroChina (0857) all climbing around 4 percent.
Insurance and banking stocks remained under pressure from the capital injection plans announced yesterday. China Life Insurance (2628) dropped 3 percent, while Ping An Insurance (2318) fell 1.78 percent. Bank of China (Hong Kong) (2388) and Bank of China (3988) declined 2.18 percent and 1.18 percent, respectively.
In the mainland, the Shanghai Stock Exchange Composite Index went up by 7.85 points, or 0.2 percent, to 3,940 points, while the Shenzhen Stock Exchange Composite Index slipped 0.52 percent to 13,703 points.
