Hong Kong stocks closed slightly lower on Wednesday for a third straight session as rising oil prices and renewed U.S.-Iran tensions kept investors cautious.
The Hang Seng Index fell 18.52 points, or 0.1%, to close at 25,311.21, while the Hang Seng China Enterprises Index dropped 12.54 points, or 0.2%, to 8,450.10.
Brent crude rose above $95 a barrel as renewed fighting between the U.S. and Iran raised concerns over supply disruptions through the Strait of Hormuz. Higher oil prices also pushed the U.S. 10-year Treasury yield upwards, adding to concerns over inflation and interest rates and weighing on technology shares. The Hang Seng TECH Index fell 0.7%.
Online fast-fashion retailer SHEIN Global (HKG:0625) continued to trade below its offer price on its second day of trading, adding to the cautious mood around new listings.
In corporate developments, Tencent Music Entertainment Group (HKG:1698) fell more than 1% a day after reporting lower first-half attributable profit of 4.56 billion yuan, compared with 6.70 billion yuan a year earlier.