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Hong Kong stocks hurt by political tensions, close at 4-week lows
April 11, 2017 / 8:22 AM / 7 months ago

Hong Kong stocks hurt by political tensions, close at 4-week lows

April 11 (Reuters) - Hong Kong stocks closed at a four-week low on Tuesday geopolitical tensions involving North Korea and the Middle East hurt risk appetites.

The benchmark Hang Seng index dropped 0.7 percent at the close, to 24,088.46, while the Hong Kong China Enterprises Index lost 0.9 percent, to 10,165.98.

Tuesday’s Hang Seng close was the lowest since March 15.

Coal prices slumped nearly 4.8 percent on Tuesday, weighing on shares of coal miners, after China’s customs department issued an official order telling trading companies to return their North Korean coal cargoes.

Energy stocks were the biggest losers in a board-based decline, with an index tracking the sector shedding 1.3 percent.

But an index of mainland property developers gained 1 percent to close at a record high. (Reporting by Jackie Cai and John Ruwitch; Editing by Richard Borsuk)

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