HK Stocks Plunge Amid Bond Volatility and US Jobs Anticipation
Hong Kong stocks plummeted on Friday as investors struggled to navigate wild swings in bond and currency markets, ahead of crucial US jobs data.
The Hang Seng Index dropped 513 points, or 2.09 percent, to open at 24,099, while the China Enterprises Index fell by 141 points, or 1.7 percent, to 8,078, and the Tech Index declined 76 points, or 1.81 percent, to 4,176.
The benchmark 10-year US Treasury yields reached a 20-year high of 5.34 percent after capping the biggest quarterly rise in 32 years but later steadied at 5.2512 percent in Asia.
Fiscal concerns in France pushed French and German sovereign bond yield spreads to their widest since 2012, impacting European stocks and sending the euro plummeting to a low of $1.1215, its lowest level since May 2025.