HONG KONG: Hong Kong shares suffered more painful losses Thursday as global markets were sent spinning after a hawkish Federal Reserve boss Jerome Powell fanned fears the US central bank will embark on an aggressive period of interest rate hikes to battle inflation.

The Hang Seng Index tanked 1.99 percent, or 482.90 points, to 23,807.00.

Hong Kong shares end marginally higher

The Shanghai Composite Index dived 1.78 percent, or 61.42 points, to 3,394.25, while the Shenzhen Composite Index on China's second exchange shed 2.87 percent, or 66.76 points, to 2,262.41.