HK up as policy moves fail to lift mainland markets

The mainland's latest effort to steady its sliding stock market struggled for traction on Tuesday, with shares pinned near one-year lows and investors saying a familiar playbook of encouraging money into the market was falling short this time. In Hong Kong, the benchmark Hang Seng Index ended up 132 points, or 0.6 percent, at 23,525 on turnover of HK$236.4 billion. The tech index rose 28 points, or 0.7 percent, to 3,867 while the China enterprises index was 36 points, or 0.5 percent, higher at 7,943. Up north, the Shanghai Composite Index fell 29 points, or 0.82 percent, to close at 3,608, on turnover of 810.83 billion yuan. The Shenzhen Component Index dropped 133 points, or 1.21 percent, to 10,876 on turnover of 892.6 billion while the ChiNext Index plunged 67 points, or 2.73 percent, to 2,391 on turnover of 446.45 billion yuan. The blue-chip CSI300 is down 13 percent since January. The index notched its largest monthly fall for a decade in October, led by a slump in AI stocks, and closed 0.2 percent lower on Tuesday. On Monday regulators responded with measures aimed at funding stock purchases by brokers, funds and companies. Authorities have also instructed banks to hold off on new listings or large share...