Hong Kong stocks opened in the red on Wednesday following a sluggish session on Wall Street as central bankers in the U.S. and Europe continued to maintain their hawkish tones. Shares of Baidu fell over 7% in opening trade after the company reported second-quarter earnings.
The Hang Seng Index lost 1.45% at the open as China’s factory activity shrank for the second straight month, led by a rise in COVID-19 cases and power rationing.
