China stocks mixed, Hong Kong slips as Hormuz reopening hopes fade
FXI•Sector moves and IPO demand
In China, non-ferrous metal stocks led the declines in morning deals, with a sub-index tracking the sector .CSI000811 falling 1.5%.
Chinese robot maker Unitree 688836.SS said on Monday its $900 million Shanghai initial public offering was more than 8,000 times oversubscribed by retail investors, reflecting investor fever.
Hong Kong shares also weakened
In Hong Kong, the benchmark Hang Seng index .HSI lost 0.6%, and the city's tech shares .HSTECH dropped 1.3%.
Separately, investors awaited signals from U.S. inflation data due later this week for more clues on how the Iran conflict has fanned price pressures, which could affect the Federal Reserve's policy outlook after last week's weak employment report tempered rate hike expectations.
Mainland China stocks were mixed at midday
Mainland Chinese stocks were mixed, while Hong Kong shares edged lower on Tuesday, as investors reassessed prospects for an end to the U.S.-Iran conflict that has boosted global oil prices.
At the midday break, the benchmark Shanghai Composite index .SSEC eased 0.1%, while the blue-chip CSI300 index .CSI300 gained 0.2%.
The smaller Shenzhen index .SZSC was up 0.4%, the start-up board ChiNext Composite index was higher by 1.4% and Shanghai's tech-focused STAR50 index inched 0.2% higher.
