Hong Kong Stocks Tumble to 2011 Low on Fed, Geopolitical Risks

pictureThe Exchange Square Complex, which houses the Hong Kong Stock Exchange, in Hong Kong, China, on Wednesday, July 13, 2022. Photo: Bloomberg

(Bloomberg) — Broad selling on concerns about the Federal Reserve’s relentless campaign to fight inflation and growing U.S.-China tensions sent Hong Kong stocks tumbling to decade lows.

The benchmark Hang Seng Index dropped as much 2.6% on Thursday to 17965.33, the lowest since December 2011, dragged down by technology shares. Meanwhile, the Hang Seng China Enterprises Index, which entered a bear market in the previous session, pared losses after earlier approaching 2008 lows.