Hong Kong CNN —Stocks in Hong Kong suffered their worst day in three months on Tuesday on growing concern about China’s weak housing market and persistently high US interest rates.
Real estate stocks were once again among the heaviest losers in Hong Kong.
Country Garden, one of the country’s largest property developers, sank 4.4%.
Market sentiment was also weighed down by concerns that US interest rates could stay elevated after US Treasury yields hit a 16-year high.
Yields on the 10-year US Treasury, which are considered a proxy for US interest rates, reached 4.7% on Monday, the highest since 2007.
Persons:
Xu Jiayin, Nomura, “, JPMorgan Chase, Jamie Dimon, ”, Stephen Innes
Organizations:
Hong Kong CNN —, Energy Vehicle, Evergrande, Estate Information Corporation, Treasury, JPMorgan, Reserve, Federal, Nikkei
Locations:
Hong Kong, Beijing, Washington, Real, Shanghai, China, Asia