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China, HK benchmarks slip as gold stocks fall on US rate hike
HONG KONG: China and Hong Kong stock benchmarks declined on Thursday, with rate-sensitive sectors, including gold, non-ferrous metals and properties, slipping after the US raised interest rates for the first time in three years. China’s blue-chip CSI300 Index and the Shanghai Composite Index dipped 0.4% each by the lunch break. Hong Kong benchmark Hang Seng fell 0.8%. The Federal Reserve raised interest rates on Wednesday and flagged more hikes in the coming months, setting a more hawkish tone than markets expected. In China, CSI gold equities slumped 5%, while non-ferrous metal shares dropped...
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