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Hong Kong Stocks Slip at Open as Tech Selloff Extends

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Hong Kong stocks opened lower on Thursday as persistent weakness in technology shares and expectations of further U.S. interest rate hikes weighed on sentiment.

The Hang Seng Index edged down 23.68 points, or 0.1%, to 23,388.50, while the Hang Seng China Enterprises Index eased 7.48 points, or 0.1%, to 7,757.49.

Technology stocks extended their decline with investors continuing to lock in profits amid valuation concerns.

Markets also remained cautious as traders priced in at least one more Federal Reserve interest rate hike this year, while easing oil prices and a stronger U.S. dollar added to the risk-off mood.

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