Hong Kong: Shares drop at start of day

HONG KONG stocks plunged at the open Monday (Jun 13) after data showing a forecast-busting jump in US inflation last month fanned bets on a sharper pace of Federal Reserve interest rate hikes.

The Hang Seng Index shed 2.95 per cent or 643.65 points to 21,162.53.

The Shanghai Composite Index slipped 0.87 per cent or 28.56 points to 3,256.28, while the Shenzhen Composite Index on China’s second exchange fell 0.77 per cent or 16.12 points to 2,069.19. AFP