Hong Kong stocks opened lower Tuesday, after China's central bank reportedly drained 48 billion yuan ($7.9 billion) from the money market on Tuesday through bond-repurchase agreements. The Hang Seng Index HK:HSI +0.01% moved lower by 0.3%. Banks retreated, as China Merchants Bank Co., HK:3968 -1.09% CIHHF +9.30% declined 2.2%, Bank of Communications Co. HK:3328 -0.58% BKFCF -0.74% fell 1.6%, China Minsheng Banking Corp. HK:1988 -0.63% CMAKY +0.29% lost 1.4%, and China Citic Bank Corporation HK:998 -0.48% CHCJY -5.19% dropped 1.2%. China's Dongfeng Motor Group Co. HK:489 -1.79% , currently in negotiations to buy a stake in PSA Peugeot Citroen, suspended trading of its H-shares in Hong Kong markets. The state-owned car maker didn't clarify the reason in the announcement. On Monday, the company said in a filing that its commercial-vehicle unit has been served with a request for arbitration by a Brazilian firm, which is seeking damages of approximately 1.67 billion Brazilian reals ($700 million) for Dongfeng's failure to establish a joint venture with the firm. On the mainland, the Shanghai Composite Index CN:SHCOMP -0.49% gave up 0.5% to 2,125.54.
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