Hong Kong Market tumbles on China ongoing anti-pandemic lockdowns

Hong Kong share market finished session down on Thursday, 08 September 2022, as risk sentiments turned downbeat on news of extended lockdowns in the Chinese city of Chengdu and on caution ahead of the ECB rate decision and remarks by U.S. Federal Reserve Chair Jerome Powell. Property and oil stocks declined, while tech issues also fell back.

At closing bell, the benchmark Hang Seng Index dropped 189.68 points, or 1%, to 18,854.62. The Hang Seng China Enterprises Index was down 76.62 points, or 1.18%, to 6,436.60.

Markets are awaiting a speech by Federal Reserve Chairman Jerome Powell later in the day for signs of any let-up in the central bank's hawkish approach to tackling inflation.

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