Tech caution holds HK, region back as key results loom

Asian stocks retreated broadly on Tuesday while oil rose as geopolitical risks rattled sentiment ahead of key results from AI bellwether companies. In Hong Kong, the benchmark Hang Seng Index opened down 196 points, or 0.81 percent, at 23,990. The China enterprises index was 49 points, or 0.61 percent, lower at 8,078 while the tech index slipped 52 points, or nearly 1.3 percent, to 4,055. On the mainland, the Shanghai Composite Index inched down 12 points, or 0.33 percent, to 3,718. The Shenzhen Component Index fell 43 points, or 0.36 percent, to 11,774 while the ChiNext Index edged down 13 points, or 0.5 percent, to 2,732. The dollar held firm against the euro as riots in France fuelled demand for safe-haven assets. Crude prices resumed their climb as markets weighed an executive order from US President Donald Trump that waived some sanctions and tariffs on Russian energy. The spotlight now turns to corporate earnings, with investors seeking fresh evidence that consumers and the broader economy remain resilient. Results are due from Meta on Wednesday and later in the week from Tesla and chipmakers Lam Research and Texas Instruments. "The market is happy to cover shorts and unwind defensive trades, but that's very different from having the conviction to rebuild...