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Hong Kong shares slide amid US rate increase concerns

Mainland companies listed in city pull back as Chinese exchanges reopen

HONG KONG (Nikkei Markets) -- Hong Kong shares headed lower on Thursday as investors appeared to be spooked by rising yields on U.S. Treasuries amid expectations for a faster pace of interest-rate increases in the world's largest economy.

The Hang Seng Index was down 1.1% to 31,095.77 by the noon lunchbreak. Heavyweight Tencent Holdings, on course for its first monthly loss since December 2016, dropped 1.3%. Insurers AIA Group and Ping An Insurance Group shed 1.9% and 1.2%, respectively. Turnover on the stock exchange's main board was 66 billion Hong Kong dollars ($8.43 billion).

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