Hong Kong equities retreated on Tuesday, with the Hang Seng Index falling about 0.6%, or 160 points, to 25,289 as investors turned more risk-averse. The pullback followed renewed geopolitical tensions and a rise in oil prices, with Brent crude moving above $91 a barrel after the US-Iran ceasefire expired, raising concerns that higher energy costs could pressure the outlook. Market sentiment was also damped by a mixed overnight session on Wall Street and weaker-than-expected July economic data from China released a day earlier. Xiaomi stayed in focus ahead of its quarterly earnings, as strong results could prolong the company’s best quarterly share-price rally in more than a year if it can convince investors that rising material costs are easing. Major decliners included Tencent, MiniMax, Lenovo, AIA and Kingboard Laminates.