Asian stocks retreated broadly on Tuesday while oil rose as geopolitical risks rattled sentiment ahead of key results from AI bellwether companies. In Hong Kong, the benchmark Hang Seng Index opened down 196 points, or 0.81 percent, at 23,990. The China enterprises index was 49 points, or 0.61 percent, lower at 8,078 while the tech index slipped 52 points, or nearly 1.3 percent, to 4,055. On the mainland, the Shanghai Composite Index inched down 12 points, or 0.33 percent, to 3,718. The Shenzhen Component Index fell 43 points, or 0.36 percent, to 11,774 while the ChiNext Index edged down 13 points, or 0.5 percent, to 2,732. The dollar held firm against the euro as riots in France fuelled demand for safe-haven assets. Crude prices resumed their climb as markets weighed an executive order from US President Donald Trump that waived some sanctions and tariffs on Russian energy. The spotlight now turns to corporate earnings, with investors seeking fresh evidence that consumers and the broader economy remain resilient. Results are due from Meta on Wednesday and later in the week from Tesla and chipmakers Lam Research and Texas Instruments. "The market is happy to cover shorts and unwind defensive trades, but that's very different from having the conviction to rebuild aggressive exposure to AI," Chris Weston, head of research at Pepperstone, said in a note. "French sovereign risk is clearly being priced into European equities, but the euro's resilience suggests traders aren't yet treating it as a systemic European problem." Meta is one of five AI hyperscalers expected to increase combined capital expenditure to about US$1.2 trillion next year, according to Goldman Sachs. Results from SpaceX are also due on Tuesday. "The dominance of technology hardware in driving earnings growth and equity price appreciation means expectations are high, with the sector globally forecast to see a doubling of earnings compared to the same quarter a year ago," Daniel Morris, chief market strategist for AXA IM Core Investments at BNP Paribas Asset Management, said in a note. "For emerging markets, it is twice that." In Tokyo, the Nikkei fell 161 points, or 0.25 percent, at 64,755, dragged lower by technology stocks, before being 371 lower at one stage before noon. In Seoul, the Kospi opened 34 points, or 0.6 percent, lower at 5,733, with chipmakers dropping on concerns over AI investment, before slipping down further to be 136 points down at one stage before lunch. (Reuters/Xinhua) Edited by Tony Sabine