China Stocks Face More Grim Milestones as Fed Deals Fresh Blow
- Fed’s hike and hawkish signals trigger global equity selloff
- China’s stance toward Taiwan, Russia may bring US backlash
This article is for subscribers only.
The world’s most acute market risks from the Federal Reserve’s monetary tightening to Beijing’s Covid Zero pursuit are hammering Chinese stocks, pushing a key gauge to the lowest in more than a decade as analysts struggle to predict a bottom.
Hong Kong’s benchmark Hang Seng Index fell 1.6% to close at the lowest level since December 2011. The Hang Seng China Enterprises Index, a gauge of Chinese stocks traded in the city, slid 1.1% after earlier touching levels last seen in 2008. Both equity gauges are among the world’s worst performers this year.