An investor looks at an electronic board showing stock information at a brokerage in Shanghai. Photo: Reuters
An investor looks at an electronic board showing stock information at a brokerage in Shanghai. Photo: Reuters

Hong Kong stocks sink to lowest since 2011 as rate increases shake market confidence, heighten recession worries

  • The Hang Seng Index slipped to the lowest level since December 2011 as Alibaba, Tencent led tech losses, while HSBC and Sun Hung Kai tumbled
  • The HKMA raised its base rate to 3.5 per cent, the highest since the global financial crisis in 2008, in lockstep with the Fed’s 75-basis point tightening

An investor looks at an electronic board showing stock information at a brokerage in Shanghai. Photo: Reuters
An investor looks at an electronic board showing stock information at a brokerage in Shanghai. Photo: Reuters
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