Hong Kong stocks open lower on rate worries

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  • 2021-02-23 HKT 09:55″ title=”Some traders worry an economic recovery will fan inflation and this will then lead to a hike in interest rates. Photo: RTHK”>


    Some traders worry an economic recovery will fan inflation and this will then lead to a hike in interest rates. Photo: RTHK
    Some traders worry an economic recovery will fan inflation and this will then lead to a hike in interest rates. Photo: RTHK

Hong Kong stocks fell at the open on Tuesday, extending a global retreat as traders grow increasingly worried that an expected economic recovery will fan inflation and lead to a hike in interest rates.

The Hang Seng Index slipped 0.43 percent, or 129.86 points, to 30,189.97.

The benchmark Shanghai Composite Index shed 0.68 percent, or 24.74 points, to 3,617.70, while the Shenzhen Composite Index on China’s second exchange dropped 1.11 percent, or 26.84 points, to 2,389.82. (AFP)