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Alibaba, Nio, XPeng Slide Over 1% As US Rate-Hike Fears Overpower China’s Slashing Of Benchmark Lending Rates

Hong Kong shares opened lower on Monday, in tune with other Asian markets, as fears of a rate hike by the U.S. Federal Reserve gathered momentum ahead of the Jackson Hole summit later this week. The Hang Seng index lost 0.8% in opening trade even as China slashed its benchmark lending rates to boost a sluggish economy.

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