HSI Heads South On US Inflation Concerns

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2022-08-10 HKT 17:33

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  • The Hang Seng Index loses nearly 2 percent on Wednesday. Image: Shutterstock

    The Hang Seng Index loses nearly 2 percent on Wednesday. Image: Shutterstock

Shares in Hong Kong joined a global retreat on Wednesday ahead of US inflation data due later in the day, with traders fearing a strong reading could pressure the Federal Reserve to continue with its sharp pace of interest rate hikes.

The Hang Seng Index shed 1.96 percent, or 392.60 points, to 19,610.84.

The Shanghai Composite Index sank 0.54 percent, or 17.41 points, to 3,230.02, while the Shenzhen Composite Index on China's second exchange fell 0.35 percent, or 7.66 points, to 2,180.83. (AFP)