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Hong Kong and mainland stocks end lower on Friday amid US rate hike jitters; Shanghai Enflame Technology surges 180% in debut
The Hang Seng Index lost 0.6% to 24,805, down 3.3% for the week. The Shanghai Composite Index fell 1.18% to 3,888. Sentiment was dampened by low trading volumes and rising expectations of further US interest rate hikes after US producer prices rose in August. Tencent-backed AI chipmaker Shanghai Enflame Technology surged about 180% in its Shanghai debut, raising 6.12 billion yuan in its IPO.
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