(Updates prices to market close)
SINGAPORE, May 5 (Reuters) - Hong Kong’s stock marketslipped on Tuesday with a drop in HSBC shares after a surprise loan loss dragging on the market, while mainland Chinese markets were closed for a holiday.
<ul>
<li>Hong Kong’s benchmark Hang Seng Index (.HSI) closed 0.76%lower at 25,889.61. HSBC (0005.HK) shares fell 5.2%.</li>
<li>HSBC (HSBC.L) reported an unexpected $400 million loss on private-credit loans linked to a fraud case in Britain.</li>
<li>The market mood was wary while a fragile Mideast ceasefire was in the balance as Iran and the U.S. launched new attacks and wrestled for control of the Strait of Hormuz.</li>
<li>Despite the backdrop, new listings are booming and Star Sports Medicine (1609.HK) stock finished its debut session nearly 120% higher than its offer price.</li>
<li>The China-based medical device company, which specialises in clinical sports medicine, raised HK$827.4 million ($105.62 million), with the Hong Kong public offering 7,823.13 times subscribed.</li>
<li>“The IPO market is still hot,” said Kenny Ng, a securities strategist at China Everbright Securities International.</li>
<li>Shares in battery-maker Contemporary Amperex Technology (3750.HK) led Hang Seng gains with a 3.7% rise.Last week CATL said it signed a three-year sales deal for sodium-ion batteries, a new technology that promises a safer, cheaper alternative to lithium-ion. HSBC led losses.</li>
<li>Regional trading volumes were subdued due to holidays in Japan and South Korea. MSCI’s Asia ex-Japan index slipped 0.3%. (MKTS/GLOB)</li>
<li>The offshore yuan (CNH=) held steady at 6.83 per dollar, even as other emerging market currencies around Asia slumped. It is the best-performing Asian currency against the greenback since the Middle East conflict erupted on February 28. (FRX/)</li>
<li>Mainland stock, bond, currency and commodity markets re-open on Wednesday.</li>
</ul>
($1 = 7.8349 Hong Kong dollars)

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- Hong Kong's Hang Seng Index closed 0.76% lower at 25,889.61, driven by a 5.2% decline in HSBC shares due to an unexpected $400 million loss on private-credit loans related to a fraud case in Britain.  
- Despite the downturn, the IPO market remains vibrant, as Star Sports Medicine's stock surged nearly 120% on its debut, raising HK$827.4 million with significant public interest.  
- Regional trading was muted due to holidays in Japan and South Korea, while the offshore yuan remained stable at 6.83 per dollar, outperforming other Asian currencies amid ongoing geopolitical tensions.

Hong Kong shares dip as HSBC loss weighs down market