Hong Kong Market slips 1.45% as US rate hike fears revive

The Hong Kong stock market finished steeply lower on Wednesday, 18 May 2016, as risk aversion selloff triggered on tracking weak lead from Wall Street overnight after strong U.S. consumer prices and other economic data added to the case for a rate increase soon. Sentiments were also hammered on tracking selloff in Mainland China A-share market and other regional bourses. The benchmark Hang Seng Index dropped 292.39 points, or 1.45%, to 219826.41 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, fell 124.77 points, or 1.48%, to 8301.01. Turnover reduced to HK$58.7 billion from HK$59.4 billion on Tuesday.

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