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Hong Kong shares retreat, Shanghai reopens with rally

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Hong Kong stocks sank on Thursday following Wall Street losses with traders fretting over the prospect of high US interest rates, though mainland Chinese markets surged as they reopened after a week-long Lunar New Year break.

[HONG KONG] Hong Kong stocks sank on Thursday following Wall Street losses with traders fretting over the prospect of high US interest rates, though mainland Chinese markets surged as they reopened after a week-long Lunar New Year break.

The Hang Seng Index slipped 1.48 per cent, or 466.21 points, to close at 30,965.68.

The benchmark Shanghai Composite Index jumped 2.17 per cent, or 69.40 points, to 3,268.56 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, advanced 1.89 per cent, or 32.82 points, to 1,771.97.

AFP

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