Hong Kong share market finished session lower on Thursday, 12 May 2022, on following overnight losses on Wall Street after data showed the consumer price index stateside in April remaining near the highest level in more than 40 years.
At closing bell, the benchmark Hang Seng Index fell 2.24%, or 444.23 points, to 19,380.34. The Hang Seng China Enterprises Index shed 2.58%, or 174.91 points, to 6,594.81.
Market participants have recently expressed concerns more aggressive moves by the Fed and other central banks could lead to a period of stagflation or an outright recession. Investors are anxious to see more data on inflation Thursday, when U.S. producer price index data is due.
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