HK Stocks Open Lower on Interest Rate Hike Concerns

Hong Kong's stock market opened lower on Monday due to concerns over an interest rate hike.

The Hang Seng Index fell by 164 points, representing a 0.64 percent decline to 25,420.

The tech sector gauge slipped 0.42 percent to 4,585, while some gold-related stocks were hit hard.

Laopu Gold (6181) and Zijin Mining (2899) dropped by 4.8 percent and 4.7 percent, respectively, as the gold price declined in response to US Federal Reserve Chair Kevin Warsh's hawkish stance.