Mainland stocks ended lower on Tuesday, reversing morning gains, as markets remained risk-off amid fresh geopolitical uncertainties.

In Hong Kong, the benchmark Hang Seng Index ended up 34 points, or 0.13 percent, at 25,868.

The China enterprises index was up 10 points, or 0.12 percent, at 8,826 while the tech index was down four points, or 0.08 percent, at 5,107.

Investors are eyeing Tencent's annual results, due on Wednesday, to gauge ‌its AI growth, which could influence the index.

Hong Kong shares, particularly the tech index, had built up sizable short positions during the recent selloff, analysts at Huatai Securities said in a note.

With equity volatility rising ‌globally, the risk-reward for leveraged long-short bets has deteriorated, prompting short covering over the past two weeks that helped put a floor under the market, analysts added.

Financial shares outperformed among declines, with onshore ⁠financials up ‌1.2 percent and offshore peers up 0.6 percent. Insurance ‌names climbed 2 percent.

Shares of Bright Smart Securities surged 47 percent after Ant Group said it had ‌received regulatory approval to acquire a controlling stake in the company.

Jewellery group Chow Sang Sang rose up to 13 percent, marking its largest one-day ⁠gain in seven months on the back of a robust earnings forecast.

On the mainland, the benchmark Shanghai Composite Index ended down 34 points, or 0.85 percent, at 4,049.

The Shenzhen Component Index was 267 points, or 1.87 percent, lower at 14,039 while the ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost almost 77 points, or 2.29 percent, in finishing the day at 3,280.

Shares in ⁠the onshore coal and oil and gas sectors fell 2.3 percent ⁠and 1.6 percent, respectively, despite oil ⁠prices rising on renewed supply fears.

In Tokyo, the Nikkei share average erased early gains to close down, dragged lower by losses in ⁠chip-related shares and a jump in oil prices.

The benchmark Nikkei 225 Index fell 50 points, or 0.09 percent, to close at 53,700, extending its decline to a fourth-straight day. The broader Topix climbed 16 points, or 0.45 percent, to 3,627.

In Seoul, the Kospi ended up 90 points, or 1.63 percent, at 5,640. (Reuters & Xinhua)



Edited by Thomas McAlinden