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Hong Kong stocks slump as AI rallies in Asia unwind on US rate-increase anxiety
Hong Kong stocks declined alongside Asian markets as rising expectations of a US interest-rate increase following a strong jobs report triggered fears of capital outflows and the unwinding of AI-driven rallies in China and South Korea. The Hang Seng Index dropped 1.8%, the Hang Seng Tech Index fell 3.1%, the CSI 300 Index slid 1.9%, and the Star Market 50 Index retreated 4.2%.
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