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Hong Kong: Stocks tumble after US jobs report

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Hong Kong shares sank on Monday, in line with a sell-off across Asia, after a better-than-expected US jobs report slashed expectations the Federal Reserve will announce a big interest rate cut this month.

[HONG KONG] Hong Kong shares sank on Monday, in line with a sell-off across Asia, after a better-than-expected US jobs report slashed expectations the Federal Reserve will announce a big interest rate cut this month.

The Hang Seng Index shed 1.54 per cent, or 443.14 points, to 28,331.69.

The benchmark Shanghai Composite Index tumbled 2.58 per cent, or 77.70 points, to 2933.36, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 2.90 per cent, or 46.40 points, to 1,554.80.

AFP