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Nikkei Markets

Hong Kong stocks dip as high U.S. bond yields stoke outflow fears

Financials drag index lower despite Tencent rally after strong earnings

HONG KONG (Nikkei Markets) -- Hong Kong shares fell for a third day on Thursday as persistent weakness in the local currency and rising U.S. bond yields overshadowed an earnings-driven rally for heavyweight Tencent Holdings.

The Hang Seng Index fell 0.5% to 31,942.15, after a choppy morning session during which it changed direction several times. Financial stocks were the main drag on the market, with China Construction Bank and Industrial & Commercial Bank of China shedding 1.7% and 1.9%, respectively, while insurer AIA Group fell 1.3%.

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