The Business Times

Hong Kong: Stocks end down on rate hike fears

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Published Mon, Oct 10, 2022 · 04:30 PM
    • A screen displaying the Hang Seng stock index in Hong Kong's Central district. On Monday (Oct 10), the index shed 2.95 per cent, or 523.39 points, to 17,216.66.
    • A screen displaying the Hang Seng stock index in Hong Kong's Central district. On Monday (Oct 10), the index shed 2.95 per cent, or 523.39 points, to 17,216.66. PHOTO: REUTERS

    STOCKS in Hong Kong tumbled Monday (Oct 10), in line with losses across global markets, after a forecast-beating US jobs report fanned expectations for more big US interest rate hikes.

    The Hang Seng Index shed 2.95 per cent, or 523.39 points, to 17,216.66.

    Mainland Chinese markets also fell as traders returned from a week-long holiday, with sentiment dragged by concerns about fresh Covid flares-ups around the country that investors fear could lead to new painful lockdowns.

    The Shanghai Composite Index fell 1.66 per cent, or 50.25 points, to 2,974.15, while the Shenzhen Composite Index on China’s second exchange shed 2.17 per cent, or 41.49 points, to 1,870.50. AFP

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