SHANGHAI – Hong Kong shares saw its biggest intraday decline since May 6, as US inflation raised concerns the Federal Reserve will continue to tighten policy.
The Hang Seng Index fell 3.4 percent to 21,067.58, while the China Enterprises Index lost 3.5 percent to 7,340.52 points.
Tech giants listed in Hong Kong slumped 4.7 percent, with index heavyweights Alibaba, Tencent and Meituan down between 4.9 percent and 8 percent.
New Oriental Education & Technology Group jumped 13.1 percent, and its online education unit Koolearn Technology closed 40 percent higher after soaring more than 100 percent in morning trade, as a live stream featuring the New Oriental chairman and an English-speaking host hawking agricultural goods went viral, local media reported.