Hong Kong stocks slide to 3-month lows on US recession fears after Fed’s rate inaction

Quick Summary:

Hong Kong stocks join a global markets sell-off as risk appetite soured after last week’s US nonfarm payrolls data which showed jobless rate unexpectedly climbed for a fourth straight month.

Japan’s central bank unexpectedly pivoted to a hawkish tone last week, signalling more interest-rate increases going forward.

On corporate earnings, Intel gave a grim growth forecast, adding to jitters after a clutch of tech companies delivered weak results.

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Article Details

Author / Journalist: Zhang Shidong

Category: Business

Markets: Hong KongAustraliaChinaJapanSouth Korea

Topics: Interest Month Index Report Market Recession Been Cent Showed Lost Friday

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-05 @ 11:08:46 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 480 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21924906

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Official Website: scmp.com

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