Hong Kong shares fell 59 points, or 0.2%, to 24,008 on Tuesday, reversing gains from the previous session as most sectors fell. A sharp drop in U.S. stock futures weighed on sentiment after President Trump urged evacuations from Tehran, stoking fears of a wider conflict as tensions between Israel and Iran entered a fifth day.
Caution also prevailed ahead of the Fed's two-day policy meeting that begins today, with a rate decision due on Wednesday. While the Fed is widely expected to keep rates unchanged for a fourth straight day, rising geopolitical risks and rising oil prices could cloud the outlook for a near-term cut.
In China, May data painted a mixed picture: retail sales hit a 15-month high, the unemployment rate fell to a six-month low, but industrial output growth slowed to a six-month low. Losses were capped by news that China's top legislature will hold its 16th session, fueling stimulus hopes. Big losers included Chow Tai Fook (-5.7%), Mixue Group (-4.0%), SMIC (-1.1%), and Pop Mart Intl. (-1.0%).(alg)
Source: Trading Economics
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