Hong Kong shares open lower amid global debt selloff

Hong Kong stocks opened lower on Wednesday amid the global bond selloffs.

The benchmark Hang Seng Index went down 48 points, or 0.19 percent, to 25,280.

The tech gauge slipped 0.41 percent to 4,532.

As rising bond yields and the stronger US dollar weighed on gold prices, CMOC (3993), Laopu Gold (6181), and Zijin Mining (2899) dropped 3.6 percent, 3.3 percent, and 2.7 percent, respectively, marking the three worst performers among blue chips at the open.

With the oil price surpassing US$90 (HK$702) again, CNOOC (0883) and PetroChina (0857) rose 2 percent and 0.7 percent. 

Lenovo (0992) jumped the most among HSI constituents at the open, up 2 percent.

After Swire Pacific (0019,0087) announced the sale of Cathay Pacific's (0293) shares, Cathay fell 1.7 percent in early trading.

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