HK, Shanghai shares dip on China fears

By Agence France-Presse

Oct 26, 2022 12:20 am

HONG KONG: Stocks in Hong Kong and Shanghai saw big swings on Tuesday following the previous day's rout after Xi Jinping tightened his grip on power in China, while other markets fought to maintain a rally fueled by hopes of a less hawkish Federal Reserve (Fed).

Optimism about upcoming corporate earnings provided some support, with Wall Street chalking up another strong day ahead of reports this week from big-name firms including Apple, Amazon and Microsoft.

An aerial view of the Shanghai Stock Exchange at the Pudong New Area in Shanghai, eastern China. XINHUA FILE PHOTO

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