Hong Kong stocks fall as energy shares retreat

Hong Kong stocks closed lower on Tuesday, as energy firms slumped after a decline in oil prices, with investors treading cautiously ahead of a U.S. jobs report. ** The Hang Seng index fell 0.9% to 28,994.10, while the China Enterprises Index lost 1.0% to 10,757.30 points.

Hong Kong stocks closed lower on Tuesday, as energy firms slumped after a decline in oil prices, with investors treading cautiously ahead of a U.S. jobs report.

** The Hang Seng index fell 0.9% to 28,994.10, while the China Enterprises Index lost 1.0% to 10,757.30 points. ** The top gainer on the Hang Seng was Haidilao International Holding Ltd, which gained 8.69%, while the biggest loser was China Petroleum & Chemical Corp, which fell 4.59%.

** Falling the most, the Hang Seng energy index retreated 2.9% on the back of weaker oil prices. ** State-owned oil giant PetrolChina lost 4.2%, while CNOOC eased 2.9%.

** Oil prices dropped for a second day on Tuesday on worries about slower fuel demand growth as outbreaks of the highly contagious COVID-19 variant Delta sparked new mobility restrictions around the world. ** Adding to the pressure were concerns new coronavirus outbreaks in Asia could undercut an economic recovery, even as robust momentum in the United States prompts the Federal Reserve to contemplate a quicker exit from accommodative policy.

** On Friday, a closely-watched U.S. jobs report for June will be released, which could sway the Fed's policy outlook and bring forward expectations for interest rate increases. ** China's main Shanghai Composite index closed down 0.92% at 3,573.18, while the blue-chip CSI300 index ended down 1.17%.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.5%, while Japan's Nikkei index closed down 0.81%.