Hang Seng tumbles 3pc on fresh rate hike fears
Stocks in Hong Kong tumbled Monday, in line with losses across global markets after a forecast-beating US jobs report fanned expectations for more big US interest rate hikes. The Hang Seng Index shed 2.95 percent to 17,217. Mainland markets also fell as traders returned from a week-long holiday, with sentiment dragged by concerns about fresh Covid flares-ups around the country that investors fear could lead to new painful lockdowns. The Shanghai Composite Index fell 1.66 percent to 2,974, while the Shenzhen Composite Index on China's second exchange shed 2.17 percent to 1,870.50. (AFP)