Hong Kong and mainland stocks ended lower on Tuesday as investors reassessed prospects for an end to the US-Iran conflict that has pushed up global oil prices.

The benchmark Hang Seng Index fell 284 points, or 1.1 percent, to 25,652 on turnover of HK$210.94 billion.

The tech index dropped 95 points, or 1.9 percent, to 4,824 while the China Enterprises Index fell 93 points, or 1.1 percent, to 8,528.

Material shares were the main dragger, with the Hang Seng material sub-index plunging 4.6 percent.

Across the border, the Shanghai Composite Index closed down 32 points, or 0.82 percent, at 3,934 on turnover of 1.07 trillion yuan, snapping a five-session winning streak, while the blue-chip CSI300 index also slipped 0.8 percent.

The Shenzhen Component Index fell 57 points, or 0.4 percent, to close at 14,259, on turnover of 1.25 trillion yuan while the ChiNext Index rose 11 points, or 0.34 percent, to close at 3,549, on turnover of 597.524 billion yuan.

Non-ferrous metal stocks led the declines, with a sub-index tracking the sector falling 4.7 percent.

Robot maker Unitree said on Monday its US$900 million Shanghai initial public offering was more than 8,000 times oversubscribed by retail investors, reflecting investor fever.

In Seoul, the Kospi ended up for a second straight session, rising 45 points, or 0.73 percent, to 6,345 ⁠as chipmakers advanced on strong exports.

The losses came after US President Donald Trump responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed ⁠in wars, attacks and protests in a rhetorical escalation likely ⁠to complicate efforts to ⁠reopen the Strait of Hormuz.

Oil prices rose more than two percent on Tuesday to over one-week highs as hopes for a ⁠US-Iran deal to end the war and reopen the Strait of Hormuz faded. (Reuters & Xinhua)


Edited by Aaron Tam