At closing bell, the benchmark Hang Seng Index fell 0.72%, or 191.92 points, to 26,306.68. The Hang Seng China Enterprises Index dropped 0.78%, or 81.51 points, to 10,401.83.
Countries across the globe shut their borders to Britain on Monday due to fears about a highly infectious new coronavirus strain, causing travel chaos and raising the prospect of food shortages days before Britain is set to leave the European Union.Investors are worried that the mutation of the Covid-19 strain will make the situation more difficult to control. This has led to concerns that even with the roll-out of the coronavirus vaccines, it may take longer than expected for the economy to recover.
Worries over President Donald Trump's sanctions on blacklisted companies, and concerns over China's antitrust laws have also continued to weigh on market sentiment. Overnight, the US announced more punitive actions directed at Beijing, with the commerce department releasing a list containing dozens of Chinese companies, many in the aviation sector, that will be blocked from buying US technology. The state department separately announced broader visa curbs on Chinese officials.
Of the 52 Hang Seng Index constituent members, 42 fell on Tuesday, paced by Geely Auto, which plunged 5.4%. Casino operators also dropped, with Galaxy Entertainment slumping 3.1% and Sands China tumbling 3.5%. Developers CK Asset lost 2.1% and Wharf REIC retreated by 2.3%.
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