Hong Kong: Stocks open down as US rate hike looms

[HONG KONG] Hong Kong stocks fell in early trade Friday as Federal Reserve boss Janet Yellen reinforced expectations of a US interest rate hike that would also see borrowing costs rise in the city.

The Hang Seng index slipped 0.40 per cent, or 89.10 points, to 22,173.78. Hong Kong's monetary policy is linked to that of the United States.

The benchmark Shanghai Composite Index eased 0.04 per cent, or 1.26 points, to 3,207.19, but the Shenzhen Composite Index, which tracks stocks on China's second exchange, inched up 0.05 per cent, or 0.96 points, to 2,117.82.

AFP