Hong Kong: Stocks plunge on Fed rate hike woe

[HONG KONG] Shares tumbled in Hong Kong Thursday, led by property firms, after the Federal Reserve lifted interest rates and indicated a further three hikes are likely next year.

The Hang Seng Index dived 1.77 per cent, or 397.22 points, to 22,059.40 at the close.

The benchmark Shanghai Composite Index fell 0.73 per cent, or 22.85 points, to 3,117.68 but the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.67 per cent, or 13.05 points, to 1,972.91.

AFP