Driven by higher-than-expected US inflation and escalating bets on aggressive rate hikes by the Federal Reserve, global bond markets declined and the US dollar remained firm, causing Hong Kong and mainland Chinese stock markets to open lower on Wednesday. Specifically, the Hang Seng Index opened down 202 points, or 0.83%, at 24,354 points; the Shanghai Composite Index opened 0.22% lower at 3,655 points; and the Shenzhen Component Index fell 0.32% to open at 11,205 points.