Hong Kong Stocks Tumble at Open as Oil Prices Surge
MT Newswires Live
3 hours ago
Hong Kong stocks opened sharply lower on Friday as surging oil prices and elevated US Treasury yields weighed on risk appetite.
The Hang Seng Index fell 2.1%, or 513.54 points, to open at 24,099.73, while the Hang Seng China Enterprises Index dropped 1.7%, or 141.59 points, to 8,078.49.
Oil prices surged, with Brent crude rising 4.37% to $102.31 a barrel and US crude gaining 2.71% to $92.87, after reports that the US was sending additional military assets to the Middle East and China had suspended oil product exports.
Investors are also awaiting Friday's US monthly jobs report for further clues on the Federal Reserve's interest-rate path.
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