Hong Kong stocks slump on inflation, Ukraine fears

Hong Kong stocks sank more than three percent on Friday, resuming a steep selloff after the previous day’s bounce, owing to concerns about soaring inflation and the war in Ukraine.

The Hang Seng Index shed 3.27 percent, or 682 points, to 20,207.

Earlier the Shanghai Composite Index shed 1.12 percent, or 36.77 points, to 3,259, while the Shenzhen Composite Index slipped 1.48 percent, or 31.98 points, to 2,128. (AFP)