Hong Kong stocks slipped 124 points, or 0.5%, to 25,941 in early Tuesday trade, marking declines for the second straight session and hovering around a six-week low. Weak U.S. futures weighed on sentiment as surging oil prices—driven by Middle East tensions and Tehran’s threat to shut the Strait of Hormuz—stoked inflation fears. Adding to the bearish momentum, Chinese automakers posted steep February sales drops, reflecting Lunar New Year disruptions. All sectors in the city traded in the red, mirroring a retreat in mainland equities following recent gains, ahead of China’s PMI release that will be due Wednesday. Still, investors held out hope that this week’s parliamentary meeting in Beijing would unveil fresh support measures for the slowing economy. Notable laggards included Zijin Gold Intl. (-6.3%), Laopu Gold (-5.3%), China Hongqiao Group (-3.0%), Xpeng (-2.4%), Cathay Pacific Airways (-2.2%), and ZTO Express (-2.0%).
