Hong Kong Stocks Open Flat Following US Jobs Data

MT Newswires Live10-05 10:06

Hong Kong stocks opened on a muted note on Monday after last week's release of the latest US jobs data, which eased concerns about an interest rate hike this month.

The Hang Seng Index opened marginally lower at 23,963.41. The Hang Seng China Enterprises Index barely moved in negative territory at 8,021.07.

Market sentiment was dampened by Friday's US Labor Department report showing the addition of just 29,000 jobs in September, falling far short of the consensus estimate of 90,000. That shortfall lowered the chances of a quarter-point hike in interest rates to 22.1% from 64.2% last week, according to CME FedWatch.

Meanwhile, the global oil benchmark hovered in the low $90s after top members of OPEC+ met over the weekend and decided not to change production targets next month, even as Middle East tensions continued to escalate.

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