Business
Hong Kong’s Hang Seng Index on track to close at its lowest in over a decade
Hong Kong’s Hang Seng Index will of course close at its lowest level in more than a decade, with stocks selling off after the Federal Reserve’s approval The third rate hike in a row 0.75 percentage points and signaled the possibility of more big gains.
The index opened 2% lower at 18,080.93, putting it on track to close at its lowest level since late 2011. Rising rates, high inflation, Russia’s invasion of Ukraine and more Fears around China — including a regulatory crackdown, an asset downturn, and the country’s strict Covid-19 policies — have all caused turmoil in markets this year.