Hong Kong shares post biggest daily loss in over 7 months
HONG KONG, Sept 10 (Reuters) - Hong Kong shares had their biggest fall in more than seven months on Wednesday, as concerns that the Federal Reserve could raise interest rates sooner than expected triggered an across-the-board sell-off.
The Hang Seng Index closed down 1.9 percent at 24,705.36 points, a four-week closing low. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong lost 2.6 percent.
Wednesday was the worst day for both indexes since Feb. 4.
Hong Kong bourses, joining the U.S. market, were shaken after economists at the San Francisco Fed published a paper saying investors expect slower rate hikes than U.S. policymakers themselves expect.
Tencent Holdings was the biggest drag on the Hang Seng, down 3.3 percent to a seven-week low, weighed down by the coming New York listing of rival Alibaba IPO-BABA.N.
Chinese mobile carriers were hurt as the mainland was not among the first batch of markets to launch Apple Inc's iPhone 6. China Mobile slid 2.6 percent, while China Unicom and China Telecom each sank more than 3 percent. (Reporting by Grace Li; Editing by Richard Borsuk)
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