HONG KONG: Hong Kong stocks tumbled Thursday, with property firms and Chinese tech giants among the worst hit as the Federal Reserve’s sharp interest rate hike raised the prospect of an extended period of tighter monetary policy.

The Hang Seng Index sank 2.17 percent, or 462.78 points, to 20,845.53.

Hong Kong stocks edge up at open

The Shanghai Composite Index shed 0.61 percent, or 20.02 points, to 3,285.38, while the Shenzhen Composite Index on China’s second exchange rose 0.37 percent, or 7.75 points, to 2,106.75.