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Hong Kong Stocks Open Lower as Fed Rate-Hike Bets Ease

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Hong Kong stocks opened lower on Friday as investors remained cautious despite easing expectations for a Federal Reserve rate hike.

The Hang Seng Index fell 0.7%, or 177.36 points, to 25,219.15, while the Hang Seng China Enterprises Index dropped 0.6%, or 50.02 points, to 8,376.47.

Wall Street ended higher overnight after U.S. producer prices were unchanged in July, reinforcing expectations that the Federal Reserve could keep interest rates steady next month.

Oil prices fell more than 2% as rising U.S. crude inventories and weaker global demand forecasts outweighed lingering geopolitical concerns.

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