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Hong Kong: Stocks sink at open on Fed rate fears

40778647 - 05_12_2016 - HONG KONG-CHINA-MARKET-STOCKS-SHENZHEN.jpg

[HONG KONG] Hong Kong stocks tumbled at the open on Thursday after the Federal Reserve hiked interest rates and suggested it could announce three more rises next year.

The Hang Seng Index fell 0.72 per cent, or 162.04 points, to 22,294.58.

And the benchmark Shanghai Composite Index dropped 0.47 per cent, or 14.77 points, to 3,125.76 while the Shenzhen Composite Index, which tracks stocks on China's second exchange, sank 0.34 per cent, or 6.66 points, to 1,953.20.


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