Hong Kong stocks open lower on Tuesday, with Hang Seng Index down 0.6% amid tech and auto sector declines
Hong Kong's benchmark Hang Seng Index opened 0.6% lower at 25,252 points on Tuesday, with the tech gauge retreating 0.5%. Alibaba dropped 0.6%, Tencent gave up 0.3%, while Meituan and JD.com fell 0.8%. In the auto sector, BYD Electronics fell 1% and Li Auto declined 1.9%, following stricter supplier payment rules introduced by mainland regulators on Monday. Meanwhile, mainland China stocks opened higher, with the Shanghai Composite Index up 0.1% and the Shenzhen Component Index up 0.06%. Japan's Nikkei 225 edged up 0.2% as the yen jumped 0.6% to 153.51, its strongest since February 18, on increased bets for Bank of Japan interest rate hikes. South Korea's Kospi led Asia-Pacific shares outside Japan with a 1.2% gain, while Australian shares slumped 0.6%.
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