HK hits three-month low, tech fears weigh on mainland
The mainland's blue-chip index fell to a one-year low on Thursday as traders returning from a week-long holiday faced renewed geopolitical tensions, higher global yields, and a looming earnings season that threatens still-lofty valuations of Chinese tech shares. In Hong Kong, the benchmark Hang Seng Index dropped 344 points, or 1.4 percent, to 23,785, touching its lowest level in three months, on…
Mainland China's blue-chip index tumbled to a one-year low on Thursday as geopolitical tensions, higher yields, and looming earnings season weighed on traders returning from a holiday. Hong Kong's Hang Seng Index dropped 1.4 percent to its lowest level in three months, while the tech index fell 2.9 percent to its two-year low. The China enterprises index also declined 0.9 percent.
Both mainland stock benchmarks and Tokyo's Nikkei slipped, while Seoul's Kospi fell for the week as investors grew wary of higher US rates and geopolitical tensions.
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