HK Stocks Slide as Strong US Jobs Report Fuels Rate Hike Fears

Hong Kong stocks opened lower on Monday as investors digested a robust US jobs report that increased the chances of an interest rate hike. The Hang Seng Index fell 239 points, or 0.94 percent, to 25,413.

The Shanghai Composite Index was more resilient, rising 12 points, or 0.32 percent, to 3,942.

The tech index in Hong Kong also underperformed, opening down 11 points, or 0.26 percent, at 4,547.

In Tokyo, the Nikkei surged 579 points, or 0.89 percent, to 65,600 before gaining another 1,647 points, with chip-related shares tracking their US peers higher last week.