Hong Kong stocks fall

Hong Kong stocks suffered their biggest one-day loss in a month on Tuesday, hurt by index heavyweight HSBC Holdings PLC after it posted a bigger-than-expected drop in its 2016 profit. The benchmark Hang Seng index erased early gains and ended down 0.8 percent at 23,963.63 points, while Hong Kong China Enterprises Index lost 0.4 percent to 10,408.56.
Shares of HSBC Holdings PLC tumbled 5 percent after it reported a 62 percent slump in annual pre-tax profit that fell way short of analysts' estimates due to one-time charges related to some businesses. The company also announced a new $1 billion share buy-back.