Hong Kong shares open lower on rate hike concern

Hong Kong stocks opened lower on Monday amid the fear of an interest rate hike.

The benchmark Hang Seng Index fell 164 points, or 0.64 percent, to 25,420.

The tech gauge slipped 0.42 percent to 4,585.

As the gold price dropped on US Federal Reserve Chair Kevin Warsh's hawkish stance, Laopu Gold (6181) and Zijin Mining (2899) went down 4.8 percent and 4.7 percent, respectively, marking the worst performance among blue chips.

Tech giants delivered mixed performance. Alibaba (9988) rose 1 percent, while Tencent (0700) slid 0.9 percent.

Meituan (3690) and JD.com (9618) climbed 2.5 percent and 0.5 percent, while Baidu (9888) was down 1.6 percent.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓