HONG KONG: Hong Kong shares tumbled at Friday morning’s open after Federal Reserve boss Jerome Powell said he would not hesitate to hike interest rates further if inflation remained stubbornly high.

The Hang Seng Index dropped 0.92 percent, or 160.42 points, to 17,350.87.

Hong Kong stocks start with fresh losses

The Shanghai Composite Index shed 0.32 percent, or 9.72 points, to 3,043.56, and the Shenzhen Composite Index on China’s second exchange dipped 0.44 percent, or 8.48 points, to 1,903.42.