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Hong Kong: Stocks fall after rate hikes

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Hong Kong shares ended lower on Thursday with property firms hit by news that three of the city's biggest banks had lifted lending rates for the first time in 12 years after the Federal Reserve hiked borrowing costs.

[HONG KONG] Hong Kong shares ended lower on Thursday with property firms hit by news that three of the city's biggest banks had lifted lending rates for the first time in 12 years after the Federal Reserve hiked borrowing costs.

The Hang Seng Index shed 0.36 per cent, or 101.20 points, to close at 27,715.67.

The benchmark Shanghai Composite Index slipped 0.54 per cent, or 15.04 points, to 2,791.77, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, shed 1.26 per cent, or 18.24 points, to 1,429.61.

AFP

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