Asia

Hong Kong shares opened lower on Wednesday, with the benchmark Hang Seng slipping 2.5%, taking cues from the S&P 500 which fell deeper into the bear territory after hitting a near two-year low. The Chinese yuan hit its lowest level since 2008 and was trading at 7.2296 against the dollar on Wednesday.

Hong Kong stocks opened mixed on Tuesday, with the benchmark Hang Seng Index edging 0.05% lower and investors searching for cues, as global markets continued to bleed in the aftermath of the U.S. Federal Reserve’s aggressive rate hike and projections.

Hong Kong shares opened in the green on Monday, defying a wider Asia trend as most markets in the region were still plagued by negative sentiment triggered by the U.S. Federal Reserve's aggressive rate hike and outlook.  The benchmark Hang Seng was 0.27% higher in early trading, while bourses in South Korea and Japan plunged over 2%.