Hong Kong: Shares start sharply lower

HONG KONG stocks dropped more than one per cent at the open Wednesday (Jul 27), wiping out most of the previous day's rally, ahead of an expected US Federal Reserve interest rate hike later in the day.

The Hang Seng Index sank 1.06 per cent, or 221.40 points, to 20,684.48.

The Shanghai Composite Index fell 0.17 per cent, or 5.65 points, to 3,271.78, while the Shenzhen Composite Index on China's second exchange dipped 0.20 per cent, or 4.28 points, to 2,182.95. AFP