Hong Kong stocks fell on Wednesday, with property and commodity plays hit hardest by China’s surprise interest rate hike, while Shanghai shares ended flat helped by a rally in life insurers. The Shanghai Composite closed up 0.07 percent after a volatile day of trading. Hong Kong’s Hang Seng index fell 0.9 percent to 23,556.5.
China’s central bank jolted global markets late on Tuesday evening with a 25-basis-point hike in one-year deposit and lending rates, a move that could mark the start of a more aggressive phase of monetary tightening. For a Take a Look on China’s rate hike, please double-click within brackets
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