{
  "id": 11405894,
  "title": "Hang Seng Index dives to end week on sour note",
  "url": "https://urgent.news/2026/10/02/hang-seng-index-dives-to-end-week-on-sour-note",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T09:07:31.000Z",
  "source": {
    "name": "RTHK News - Finance",
    "slug": "rthk-news-finance",
    "url": "https://news.rthk.hk/rthk/en/component/k2/1872425-20261002.htm"
  },
  "original_language": "en",
  "account": "Asian stocks declined sharply on Friday as investors grew increasingly uneasy about surging oil prices and bond yields. Hong Kong's key Hang Seng Index dropped 640 points, or 2.6%, to 23,972, while the tech index fell 95 points, or 2.3%, to 4,157, and the China enterprises index declined 189 points, or 2.3%, to 8,030. US Treasuries and government debt yields skyrocketed on Thursday due to fears that escalating energy costs from the Middle East crisis would force central banks to raise borrowing costs well into the following year. The concern persisted into Friday, exacerbated by fresh worries of another escalation in the US-Iran war. Both main crude contracts saw a setback from the previous day's surge, but they remained high as Washington and Tehran failed to reach an agreement to end the crisis and reopen the Strait of Hormuz. Reports suggested that the US military would increase its presence in the region, possibly deploying the USS Theodore Roosevelt aircraft carrier and its strike group in the coming month. The situation in bond markets now anticipates four additional 25-basis-point rate hikes by June 2027, a significant shift from expectations of multiple rate cuts earlier in the year. Forex.com analyst Fawad Razaqzada noted that the Bloomberg Commodity Index surged over 37% year on year, indicating a potential wave of commodity-driven inflation, which would complicate the outlook for central banks as borrowing costs continue to rise. The US non-farm payrolls figures, released later on Friday, will be closely watched to gauge the Federal Reserve's next move following last month's interest rate increase. A weaker-than-expected report on inflation this week had temporarily eased concerns about another rate hike on October 28, but a robust jobs report could bolster the case for such a move. In Tokyo, the Nikkei 225 slipped 647 points, or 0.94%, to 68,309, ending its weekly gain of 2.9% as investors cashed in profits. The broader Topix declined by approximately 41 points, or 1%, to 4,091. In Seoul, the Kospi finished slightly higher for the day at 0.46%, but down 1.09% for the week, as rising global bond yields added to the pressure on equity prices. South Korean businessman Chey Tae-won, chairman of SK Group, announced he would sell a 2.26% stake in SK Corp for around 944 billion won to settle a divorce settlement, but would retain his position as the largest shareholder of the conglomerate.",
  "summary": "Most Asian stocks dropped on Friday as investors grew increasingly concerned about surging oil prices and bond yields, while key jobs data later in the day will be pored over for an idea about the US Federal Reserve's next interest rate move. In Hong Kong, the benchmark Hang Seng Index plunged 640 points, or 2.6 percent, to 23,972 on turnover of HK$145.8 billion. The tech index dropped 95 points,…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}