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Hong Kong stocks fall as surging bond yields, higher oil prices weigh
HONG KONG: Hong Kong stocks dropped on the first trading day of October, as the 10-year US Treasury yield hitting a more-than-two-decade high and rising oil prices dampened investor appetite for risk assets. Hong Kong benchmark Hang Seng lost 2.6% by midday. Hang Seng China Enterprises Index and Hang Seng Tech both fell more than 2%. By sector, biotech and financial shares led the decline. Global bonds came under heavy selling pressure again on Thursday, sending borrowing costs from the United States to France and Japan to multi-decade highs, putting investors on high alert for further market ...
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